The Fed is Likely to Print More US $ 500 Billion

The Fed is Likely to Print More US $ 500 Billion by the End of 2010 out of Thin Air

CNBC Says, The Federal Government is likely to print more US $ 500 Billion out of thin air by the end of 2010.

William Dudley, president of the Federal Reserve Bank of New York, said current conditions of high unemployment and low inflation are "wholly unacceptable".

"Further action is likely to be warranted unless the economic outlook evolves in such a way that makes me more confident that we will see better outcomes for both employment and inflation before long," Dudley told a conference of business journalists in New York.

Dudley, seen as one of the more dovish Fed presidents, said the costs of the tools the Fed has available to ease policy further "do not appear prohibitive."

He also said the U.S. economy is unlikely to slip back into recession, and called "double-dip" fears "not the issue."

The US Government has literally printed US $ 1.7 trillion since the starting of the recession and now it is going to print more money to save their economy.

The only problem with such kind of money printing is that, it will cause hyperinflation by diluting the purchasing power of the existing money in the economy.

Printing US $ 1.7 Trillion has not solve the problem of high unemployment yet and the fed is likely to print more money out of thin air only.

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