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If oil prices continue to climb, it could force the Federal Reserve to make a new round of asset purchases, according to Atlanta Fed President Dennis Lockhart.
Appearing at the National Association of Business Economics in Arlington, Va., Lockhart said that while he doesn't think additional purchases are currently warranted, more stimulus could be needed if oil prices continue to climb.
Appearing at the National Association of Business Economics in Arlington, Va., Lockhart said that while he doesn't think additional purchases are currently warranted, more stimulus could be needed if oil prices continue to climb.
Maybe instead, the FED could simply create the money and buy up all the oil stock, sell it for a couple pennies on the dollar, select that dollar amount on the computer (which is the only place it resides anyway) and hit the delete key? Voila ... cheap oil and all that currency (not to be confused with money) is gone too.
That really wouldn't work even if they were trying to save the economy .. which they're not.
Issachar