Ex-Fed official admits to creating asset bubbles
Duncan Richardson, News Editor
11 Jan 2016, 4:07 p.m.
Former Dallas Federal Reserve President, Richard Fisher, has blamed the Fed for creating a massive equity bubble. Fisher admitted the Fed knowingly engineered a U.S. equity recovery and caused an asset bubble which will eventually burst.
Fisher was on the Fed’s Open Market Committee which voted for massive money printing via quantitative easing and for implementing the Fed’s zero percent interest policy. The ex-Fed official confessed to driving up the equity markets to create a so called wealth effect.
So finally after 8 years we have an admission from a Fed official admitting that equity markets are over-priced and the Fed is responsible.
So the Fed has caused a series of asset bubble, created wealth for the 1%, allowed corporations to borrow like never before and caused house prices to become unaffordable.