New Starve-The-Beast Plan: Stop Fed Printing Press:
Capital Hill has been exploring the potential for a political backlash against renewed Federal Reserve quantitative easing with a focus on one particular set of risks: a jump in oil prices even as the economy continues to sputter.
Oil prices have climbed back to $83 a barrel, fueled in part by a Fed-inspired weaker dollar, though demand growth in China and other emerging markets is the biggest reason.
Despite the diverse set of drivers, a spike in prices at the pump with unemployment stuck near 10% could help mobilize resentment against Fed reinflation efforts."
Thursday, October 14, 2010
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