Tuesday, February 14, 2012

"FED SHOULD HEED LESSONS OF PAST"

http://finance.yahoo.com/news/fed-heed-lessons-1920s-grant-155600555.html

"The Fed is not content to let interest rates find their levels, they must repress them, and they are not content to let housing prices find their levels, they seek to intervene to prop them up," Grant said in a radio interview on "Bloomberg Surveillance" with Ken Prewitt and Tom Keene. "The results of all this intervention is not to cure what ails us, but prolongs the symptoms of what distresses us."

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