Last week, Richard Fisher, the president of the Dallas Federal Reserve and a member of the central bank’s policy-making committee, compared Wall Street’s addiction to the Fed’s economic policy as “monetary morphine.”
I coined a version of that term more than three years ago because it aptly describes how the Federal government is handling the economy.
Ben Bernanke, current chairman of the Federal Reserve, is the “morphine dealer” as he continues to promote his “accommodative monetary policies,” which keeps interest rates ...
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