If you've listened to me for any length of time, you know how concerned I am about The Federal Reserve's recent policies on “Quantitative Easing.” If you're not familiar with the term, it's a nice way of saying that they are willing to print more money.
Was I a nut job to suggest that their QE policies were ticking time bombs? Not according to a new report from CNBC.
They interviewed former Fed official Andrew Huszar about it. Here are a few things he said:
“I believe that at the time, it was just one more tool that the Fed introduced to try to help the economy,” he said. “My point, ultimately, is the idea that very quickly into QE, it started becoming obvious that it wasn't working in the way that it was supposed to.”
“I can only say: I'm sorry, America,” he wrote. “The central bank continues to spin QE as a tool for helping Main Street. But I've come to recognize the program for what it really is: the greatest backdoor Wall Street bailout of all time.”
Watch my video now to see my full explanation about QE and my views on Mr. Huszar's apology.
For the full CNBC report, go here now