Thomas Hoenig on Inflation and the Federal Reserve
The Great Antidote
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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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