WOW! He openly admits that in the real world, ending this policy will be nearly impossible.
"Like an army falling, one by one by one" - Linkin Park
He's the only anti-hyperinflation member of the board.
This guy needs psychiatric help. They need to replace him.
Actually that is the second statement from a Fed chief in the past couple years that shows they speak what they think , the other being that the US is at full employment.
Seems like most of the commentary centered around the idea that the Fed has to stay active because Washington DC is broken. Really, this fiscal cliff and debt ceiling stuff is just ridiculous. No reason for the government to throw the economy off track by making the future less predictable.
The Matrix is a system, Neo. That system is our enemy. But when you're inside, you look around, what do you see? Businessmen, teachers, lawyers, carpenters. The very minds of the people we are trying to save. But until we do, these people are still a part of that system and that makes them our enemy. You have to understand, most of these people are not ready to be unplugged. And many of them are so inured, so hopelessly dependent on the system, that they will fight to protect it.
He's one of the more reasonable members of the Fed.
I'm sure he'll be gone soon.