Chinese and German finance chiefs enraged by Fed chief Ben Bernanke's plans to inject $600 billion into the economy by buying Treasury bonds have found a somewhat unlikely ally: Sarah Palin. The Alaskan slammed the "quantitative easing" policy in a speech to a trade group yesterday, using terminology foreign to her typical "just us folks" speeches. "If it doesn’t work, what do we do then? Print even more money? What’s the end game here? Where will all this money printing on an unprecedented scale take us?" she asked, according to prepared remarks obtained by National Review Online.
"We shouldn’t be playing around with inflation," Palin warned, demanding Bernanke "cease and desist." The Fed's "pump-priming addiction has got our small businesses running scared, and our allies worried," she said. Palin says she plans to hold discussions at schools around the country to educate children about the effects of the Fed's policy, Reuters notes. President Obama, meanwhile, defended the policy at a news conference in India; click here for more on that.
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