“The Federal Reserve should start raising interest rates now in order to head off inflation later, Rep. Paul Ryan told CNBC.
Speaking a day before Fed Chairman Ben Bernanke is scheduled to visit Capitol Hill for a congressional hearing on monetary policy, the Wisconsin Republican and head of the House Ways and Means Committee expressed reservations about the central bank’s direction.
“I’m worried they’re not going to pre-empt inflation,” Ryan said. “I’m worried they’re going to see it too late and we’re going to have a problem.”
The Fed last week voted unanimously to stay on its current course—loose zero-interest rate monetary policy and buying $600 billion worth of Treasurys to circulate more money in the financial system.” Read more.
“Fed Missing Inflation, Should Raise Rates: Rep. Ryan”
CNBC, February 8, 2011.
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