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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (51222)1/24/2006 8:43:36 PM
From: UncleBigs  Read Replies (2) of 110194
 
Russ...for once a Fed member is making some sense...at least partially. This is directly contrary to some of the ridiculous things that Bernanke has said about the trade deficit (global savings glut, etc.). However, it's interesting that he doesn't thing monetary policy has a role in correcting the trade imbalance and he sees a need for the Fed to "remain flexible" (presumably means have the printing presses ready).

The Fed encouraged debt financed consumption and is the cause of the misinvestment and imbalances in our economy. I suppose it's a start that a Fed official at least admits that the trade imbalance is not sustainable.
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