yeah, that was lockhart the chimp. not a voting member (thank God). fischer who is a voting member, essentially said no qe3, and would be open to an early end of qe2. lockhart is a jackwagon. lets see, more qe, more commodity inflation, leading to....more qe? and the cycle repeats.
QE as an antidote for oil shocks? What else can QE cure? Baldness? Poor eating habits? Middle Eastern conflicts?
Can't have general inflation without a rise in incomes. Not going to get a rise in incomes unless oil prices collapse. The dollar is a reasonable proxy when energy is cheap and abundant - but it's a misdirect when energy is expensive and getting more expensive.
Another round of stimulus would be a complete joke, we already have skyrocketing commodities and a worthless dollar, more stimulus to prop up a worthless economy is going to be just another laughing matter, this isn't a bull market and there is no turn around in the economy. The credit crisis is still here, but the only way to make pretend it doesn't exist is to continue to throw massive amounts of worthless dollars at the economy. Let the fools welcome QE3 and what ever QE's they are going to throw at the economy, but it will NOT fix a thing. Bubble ben bernanke is out of magic tricks!!!!!
sorry RC but are you discounting stagflation or are you simply using a different definition for "general inflation" as one that must include wage inflation as well?
The beginning of the end of paper money. Get the birdbrains out of the way and let the market make the adjustments. Things get so screwed up when over educated princeton professors try and manage something so big with little to no experience running even a small business.