Tom Keene's EconoChat

摘要

You have the quote of the week on the Fed: "This is not a perpetual motion machine." Is that what the Fed thinks it has built? They would like us to think that they have a perpetual motion machine. If they pump enough liquidity, they are going to force markets higher. We are going to feel better, and we are going to get past this problem. It will work until we get worried that it is going to create inflation, and I think that is going to come later this year, maybe early next year. And then it will become an anchor around the banks' necks.