The Fed's Attack on the American Public

David Frum: What the Fed has unleashed upon us all. Is there any descriptor for it? And I mean, do you also see what has unfolded as a bipartisan attack on the American public? Frum: It is the very opposite of what monetary policy was attempting to do in the early 80s when the Reagan era incepted. He says Wall Street applauds this policy because they trade the markets day by day and Washington applauds the policy because it lets them off the hook on the massive fiscal crisis that they have generated.

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