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4min chapter
Thomas Hoenig on Inflation and the Federal Reserve
The Great Antidote
Inflation Continued Well Past the A, Number Two
The fedal reserve begana very extensive increase in money. It was buying a hundred and 20 billion dollars of government securities and mortgage back securities per month, creating new money to pay for that. So we have a lot of inflation momentum in the economy for both asset and goods and services. And i don't know about the federal government's ability to contain its spinding going forward. I think we will have inflation to deal with for at least two years.
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