Fed presidents slug it out over bond-buying policy

Marketwatch ^ | April 3, 2013, 8:21 AM | – Steve Goldstein

[Ernest_at_the_Beach]

It’s not often — but not unpredecented — for Federal Reserve officials to make joint appearances. But Tuesday night’s gathering when Richmond Fed President Jeffrey Lacker hosted Chicago Fed President Charles Evans was notable for the debate format that ensued from the opposite ends of the monetary policy spectrum.

Lacker is a reliable hawk, who wants the central bank’s bond buying efforts to stop, and dissented on every policy decision last year (he doesn’t have a vote this year). Evans by contrast is a dove among doves, and an influential member who came up with the idea — now adopted by the Fed — of linking bond purchases to the jobless rate.

[oldbrowser]

Just before our banks collapse, these experts will withdraw their millions and move to a foreign country. Just like the Cypriot bankers and politicians did last month.

There needs to be a separate law for mega criminals.

[KarlInOhio]

There needs to be a separate law for mega criminals.

I would even be happy with the same law. A cashier at McDonald's could be arrested for slipping a twenty out of the till, while Jon Corzine mixing customer money with company money at MF Global...

[familyop]

Bonds are as good as the debt and hoodoo they’re riding on, but they’ve gone too far. Stop the funny money practices, collapse now. Continue the funny money practices, and there’s more time to prepare yourselves for the same consequences (bond collapse, repudiation, currency adjustment, etc.). Have fun. Enjoy the slide.