Well this guy was right to raise the issues BUT these seeds were sown by Greenspan and Congress in the early 2000’s when rates were kept too low for too long. With that inheritance and the rise of China etc all , a surging commodity boom has been unavoidable and with it a fall in the standard of living for the US and the UK where I live. I am re-modelling my houe and when i first discussed plans it was going to cost about $140K and now it will be more like $200 K all due to the surge of commodities (should have bought gold futures !) .
The Bernanke Fed did not cause the present problem at all and he cannot but lower rates. He missed a major trick though by not reminding Paul that the Fed is required by Congress to keep growth going , so inflation fighting is undertaken with one hand tied behind the back.
