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When Ben Bernanke announced that the Federal Reserve’s Open Market Committee is going to continue the money expansion program it calls Quantitative Easing apace, almost everyone in the financial media was taken by surprise. The decision “surprised almost everyone out there” they said. Well, not me. As I said, The Fed knows that the appearance of economic health would evaporate if stimulus were withdrawn. The Fed understands, as the market seems not to, that the current “recovery” could not survive without continuation of massive monetary stimulus.
For more on how I knew the Fed wouldn’t taper, here’s an oped I released after the decision was announced http://www.europac.net/commentaries/taper_wasnt
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Peter Schiff is an American investment broker, author, financial commentator, and was a candidate in the 2010 Republican primary for the US Senate.
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Peter Schiff is an American investment broker, author, financial commentator, and was a candidate in the 2010 Republican primary for the US Senate.
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