Palin, Germany, China: Trio Odd criticism of the Fed

It is rare that $ 600 billion is called a joke. But these are different times.

As they prepare to join with another group of 20 nations in Seoul, South Korea his money in the Bank to boost the recovery system pump plan is find enemies foreign and domestic - Germany and Sarah Palin China finance officials.

"Vice former candidate in the presidential and Tea Party favorite Palin weighed on the end debate Monday on si plan, known as quantitative easing, would contribute to stimulating the u.s. economy, call the Federal Reserve Chairman Ben Bernanke to cease and desist".

No. 6 - our avoiding career networking: network is not easy for everyone, and evil can cause in fact more harm than good .Wal-Mart, Target Holiday Toy war intensifies Life.: Best (and more) States for next issue of builders of job-seekers: Generation Y

"When Germany, a country who knows something about the dangers of inflation, warns against us mistake, perhaps it is time for Bernanke Chairman of stop," Palin said in a speech in Phoenix.

History: U.S. violently on the policy of the US Federal Reserve before the G-20 Summit

Palin was referring to a statement, the week by the Minister of finance German Wolfgang Sch?uble said that it was intrigued by the move, which aims to stimulate the economy by making cheaper loans last.

The problem, if Palin step take, is ensure that loom in the course of the two-day G20 Conference which opens Thursday.

"I great doubts as to whether if it is logical to pump the unlimited amounts of money on the markets", are told Der Spiegel news magazine on Saturday. "There is no shortage of liquidity of the economy américaine.Je see the economic argument for this move."

It more to the point, the last week has called the policy "clueless."

Bernanke has defended the plan almost from the moment, it was announced last Wednesday.

History: Bernanke: inflation concerns are "overvalued".

In an editorial written for the Washington Post last week, Bernanke said that the program of the Federal Reserve would stimulate the rampant inflation concerns have been exagérées.Il pointed out that policy would lead to a stronger u.s. economy, which is good for the world and could lead to a stronger u.s. dollar.

Reserve US Federal because moving the unemployment now 9.6% is too high and inflation is too weak, he argued."Where extreme, very low inflation can turn into deflation (decrease of prices and wages), which may contribute to long periods of economic stagnation," Bernanke said.

China, the Germany Brazil and a wide range of developing countries are concerned plan will take effect inverse.Ils fear that move the Fed will weaken the u.s. dollar and the spark of bubbles and inflation in their own country. Pumping $ 600 billion in the US banking system is likely to lead to lower interest rates and a weakness of the dollar, which makes it relatively cheaper than exports from other countries exports.

My Delun, a Deputy Governor of the people's Bank of China said Tuesday that he feared that profligacy of the Federal Reserve can undermine efforts to compensate for global growth.

Programme of the Federal "can add risk to global economic imbalances, putting pressure on emerging markets to adjust the balance of international payments and may also mix the formation of bubbles, which requires our vigilance," reserve my said in Beijing.

China is concerned enough about the possibility that he drove yields on debt in the short term and announced new rules to slow down the flow of hot money "in its banking system."

There is even concern to the Federal Reserve American on the question of whether the program could ignite inflation .Kevin Warsh United States, a Governor of the Fed with narrow Bernanke warned Monday that the program has "risks" and said he doubted that it would be "significant" benefits for the economy.

Story: Allied Bernanke has doubts about the latest Fed move

But unusual Bernanke Chairman Barack Obama rarely comments on the decisions taken by the US Federal Reserve independent support.

", My mandate the Fed, is the growth of our économie.Et this is not only good for United States, what is good for the world,"Obama said India Monday press conference"the worst thing that could occur in the global economy... If it eventually be blocked with no growth or very limited the croissance.Et I think that is concerned about the Federal Reserve, and it is my concern as well."

Some investors have right to vote with their portfolio by buying gold, a haven in times of uncertainty économique.Or hit records for a fourth day consecutive Tuesday, with the precious metal futures climbing to $1,422.10 an ounce.

Growing tensions have led some to call for the use of gold, if this is just a standard, then at least as a tag for the World Bank monnaies.Président Robert Zoellick, a former official of the Department of the Treasury Board, called for a system to use gold as an international reference of the expectations of the market on inflation, deflation and future monetary values point."

Wrote in the Financial Times, Zoellick said the system 'may require the dollar, the euro, the yen, pound sterling and a renminbi (Chinese) that moves towards internationalization, then an account opened in the capital.

Obama turned criticism of China Tuesday as he warned that the G-20 was still a long way to go for creating a framework for balanced global growth.

"We still have much work to do," Obama said at a press conference in Indonesia.

"One of the key steps is developing additional tools to promote balanced and sustainable growth," he said. ""We have not yet reached this growth balanced," he added, noting that some countries were involved in foreign exchange markets to maintain an advantage, without naming names.

The Associated Press and Reuters have contributed to this report.


View the original article here

You can leave a response, or trackback from your own site.

0 Response to "Palin, Germany, China: Trio Odd criticism of the Fed"

Post a Comment

Powered by Blogger