Eric Rosengren, the President of the Federal Reserve Bank of Boston, a non voting member, a Ph. D economist and a Federal Reserve lifer (he never had a private sector job) in an interview with the WSJ printed today said money print away. He said “We need a pro growth monetary policy.” The fed funds rate at 0-25 bps, $2.3T of asset purchases with money out of thin air and another $700b of Twist is just not enough for him and this time he wants an “open ended program” that will continue to buy Treasuries and MBS “until we start seeing some pretty significant improvements in growth and income.” Instead of the start and stop of previous QE’s, he wants an IV drip into the US economy until it wakes up. This IV “shouldn’t set a fixed amount or end date.” Got gold?

Category: MacroNotes

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

4 Responses to “Got gold?”

  1. JJ Butler says:

    At 5:15 this morning I ate breakfast to a CNBC talking head suggest Rosengren’s print approach is wrong. Instead, this talking head stated a massive fiscal stimulus should occur! The “Got gold?” idea remains…

  2. dougc says:

    Obviously we should follow Japans monetary policy, buy government debt and finance at least 50% of the budget. It has worked so well . Inflation is the only answer that will save the rich and destroy the 90%, so they will.

  3. stanley says:

    “Eric Rosengren, the President of the Federal Reserve Bank of Boston, a non voting member, a Ph. D economist and a Federal Reserve lifer (he never had a private sector job) in an interview with the WSJ printed today said money print away.”

    What an IDIOT, and he’s got a PhD? in what underwater basket weaving? It’s OK, he’s part of the scam, he lent is phony credentials to this ponzi scheme to crash the Petro-Dollar / aka Dollar-Reserve Currency. Then the entire world will have paid for out the pockets of every country and person that holds a T-Bill. Once the dollar crashes, those Treasury bills based on repayment via the Dollar, will be worth only the paper their written on. Rosengren is a Quack, besides, it’s not real debt, it’s just credit. Just wipe the slate clean and start over. Rosengren, Greenspan, Bernanke, Geithner, Gensler, Paulson, you notice anything similar about most of these names? They all need to be jailed. But that’s ok too, Once America and the dollar, is destroyed, the military will stop working, because they can’t be paid. And as a nation in taters there will be no other nation to support Israel.

  4. TwoWheels says:

    “Eric Rosengren, the President of the Federal Reserve Bank of Boston, a non voting member, a Ph. D economist and a Federal Reserve lifer (he never had a private sector job)”

    Please tell me when The Fed was _NOT_ private sector? The Fed is not a US government agency in any shape or form.

    If you are going to write an article, it would be nice if you did your homework first…