The bad news is that we have no idea what sort of unexpected consequences this rampant Fed printing is going to cause.
It was also expected that QE2, with the Fed printing tons of dollars to finance its big bond purchases, would result in the dollar extending its decline against global currencies.
Whether that financing comes through higher taxes, higher federal borrowing, or the Fed printing dollars and causing inflation, it all involves a drain in some way of resources that would be more efficiently and productively used in the private sector, guided by market incentives and competition.
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The Fed is printing billions of dollars to buy Treasury securities and finance government deficits.
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"And second, when the Fed is printing money, it is not buying bonds of distressed states like California it's more general, it's spreading it, " he says.
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One could even say, metaphorically, that the Fed is printing money.
Remember, the Fed has the printing press and will print enough monies to cover losses.
Oil became expensive because the Fed has been printing too much money.
The Fed is simply printing dollars faster than we need them.
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The irresistible force of Fed money-printing collides with the immovable object of a great correction in the smash-up, the debris flies in every direction, giving us a bewildering, mixed-up picture that looks a lot like stagflation.
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While Bullard said forward guidance is ineffective, and asked for a modification in the flow rate of asset purchases (Fed code for more money printing), they both agree the Fed has to do more to stimulate the economy.
That is, rather than announcing plans to stop printing money at an arbitrary date or dollar figure, the Fed announced it would continue printing money until an economic recovery got under way.
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During World War II, again the Treasury pressured the Fed to put a lid on long-term interest rates, which again led to excessive money-printing by the Fed.
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America (and other economies) have been enjoying a very different sort of wealth creation: the Fed is in effect printing it.
On November 25th, 2008, the Fed announced its first money printing aka QE1.
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The Fed has front loaded money printing each year, QE1 in 2010, QE2 in 2011 and Operation Twist this year.
Massive money-printing by the Fed to support the economy makes sense from a national perspective, but it may harm the dollar's value.
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"We're still seeing modest U.S. economic growth and a Fed that's got the printing presses going, " said Mr. Nolte.
Now the Fed is artificially stimulating the economy by printing money at a rate the world has never seen.
The new plan would be ostensibly printing of greenbacks by the Fed and would be raw-commodity market bullish, including bullish for gold and silver markets.
Assume the Fed doesn't turn on the printing presses, Washington is nonetheless putting itself in a position to force banks to buy government bonds, just as it forced them to do its bidding with Chrysler and GM.
Bretton Woods thinks the printing press will slow at the Fed in the second or third quarters.
The feeling in the market seems to be that, based on their statement, the Fed, sooner or later will reengage the printing presses in an effort to stimulate the U.S. economy.
If a spike in interest rates, a surge in commodity prices, or a currency crisis forces the Fed to scale back or stop its money printing, the party could grind to a halt, and the hangover could be nasty.
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Mr Zhou's proposal is China's way of making clear that it is worried that the Fed's response to the crisis printing loads of money will hurt the dollar and hence the value of China's huge foreign reserves, of which around two-thirds are in dollars.
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We are well aware that the printing presses have been working overtime at the Fed.
She seems to love money printing, whether it's at the Fed or some other central bank.
The Bernanke Fed, failing in its effort to create wealth by printing it, may create nothing but a shredded dollar.
Such purchases amount to printing money, and aroused fears that the Fed was subordinating inflation-control to helping the government finance its deficits.
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Printing money is solely the prevue of the Fed.
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