Seems that Kansas City Fed President, Thomas M. Hoenig, is concerned we could be seeing the beginnings of a Boom Bust cycle much like Japan has experience for the last two decades. The inflation hawk is concerned that free money is deteriorating the underlying structure of the US economy, and could stoke future inflationary challenges.
In other words, Hoening isn't telling us anything we didn't already know, but just happens to carry some extra clout as a Fed member. I wonder how many Yuan I can get for my thousands of dollars in about five years, perhaps I should purchase them now.
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