In 2010, Hoenig, nearing retirement at the time, was the sole voting member of the Federal Open Market Committee (FOMC) against long-term intervention. He worried that QE would eventually destabilize the economy and lead to inflation. That the Fed, by encouraging riskier lending by banks, would create asset bubbles.
- Bitcoin and Today’s Wicked Inflation Share a Common Ancestor
Written by Bankerage Published on April 13, 2022