These are reasonable starting points for addressing the intractable problem that may have very serious ramifications for future monetary policy. A second concern I have is the consequences that will follow when we combine our current fiscal projections with a highly accommodative monetary policy.
In essence, the Federal Open Market Committee (FOMC) has maintained an emergency monetary policy stance in a recovering economy and has continued to ease into the recovery. I believe these actions risk creating a new set of imbalances, or bubbles. Importantly, such actions as they continue are demanding the saving public and those on fixed incomes subsidize the borrowing public.