Central Bankers: Stop Dithering. Do Something

http://www.nytimes.com/2011/11/21/opinion/central-bankers-stop-dithering-do-something.html?ref=todayspaper

---------- Forwarded message ----------
From: barry levine 
Date: Mon, Nov 21, 2011 at 12:41 PM
Subject: re: Central Bankers: Stop Dithering. Do Something
To: letters@nytimes.com


To the Editors:

   If the Federal Reserve were an agency of the U.S. government committed to economic recovery, it would long ago have committed to robust stimulus. The Fed however is only a quasi-governmental agency. It is run by bankers for the banks.  Sure, a bit of inflation is tolerable in a healthy economy.  But bankers fear that inflation would let borrowers (read "us") repay debts to creditors (read "the banks") in debased currency. As long as our monetary policy is in the hands of this cabal, we shouldn't expect the People's interests to be served.

Barry Haskell Levine