The curse of free money

posted by
April 14, 2011
Freedom Politics
by George Will  
Posted in Commentary

"The lobby of the Federal Reserve Bank building here contains a money museum where a sign offers visitors "Free Money." It is an amusing anomaly, considering the views of the man in charge of the building. The free money in the lobby consists of shredded currency in small plastic bags. The free money that distresses Tom Hoenig, in his 20th and final year as president of one of the Federal Reserve's 12 regional banks, is being pumped into the economy by two policies of the Federal Reserve in Washington -- very low interest rates and a second 'quantitative easing' (printing money)." (04/14/11)  

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