So what you really mean is that QE coupled with Obama’s anti-business policies is the right balance, no?
Otherwise, I suspect they’re going to get it wrong. We already have asset bubbles in specific markets. At the same time, I pity whoever is running the Fed. You essentially inherit decades of policy that deserves to be unwound, but isn’t politically feasible to do. Worse, you’re hostage to both Congress and the WH and their conflicting policies and meddling. I’m not unsympathetic individually to the Chairs’ challenges, but I think the FED just gives more cover to the politicians to ruin everything.
Accidentally yes.
QE was the exact right prescription for deflation which is what we were facing.
The Fed, Bernanke and Fisher specifically, have been scathing in their criticism of Congress and Obama’s fiscal and regulatory policies.
IMHO the economy would be significantly worse without QE. Congress and Obama have gotten away with more because QE disguised it but QE was not meant to disguise it. It was the absolute right thing to do.