“The Fed’s Contrarian Has A Wary Eye on the Past”
“Mr. Hoenig’s latest, loudest objections, aimed at the Fed’s risky $600 billion infusion into the markets to reinvigorate the economy, have made him a champion of the Fed’s critics in Congress, on Wall Street and among business leaders, who, like Mr. Hoenig, fear that the central bank is risking runaway inflation, asset bubbles and a weakened dollar.
At 64, Mr. Hoenig has witnessed jolts in the nation’s economic history that makes him deeply skeptical of short-term fixes. He says he believes the Fed’s tools for fixing the economy in the short run are limited and the potential for things to go disastrously wrong are very high.” Read more.
“The Fed’s Contrarian Has A Wary Eye on the Past”
Sewell Chan
The New York Times, December 13, 2010.
Image by Filomena Scalise / FreeDigitalPhotos.net.
