Bernanke's Plans More Dangerous Than Fiscal Cliff

By William Cohan, Washington Post - December 28, 2012

In the short term, Washington lawmakers are understandably preoccupied with trying to avoid the “fiscal cliff.”

But the decisions that are likely to affect the economy’s long-term health are happening not on Capitol Hill or at the White House, but at the Federal Reserve — specifically, Chairman Ben Bernanke’s policy of continuing to drive down long-term interest rates until unemployment hits 6.5 percent. This tactic, called quantitative easing, could remain in place for years. But is it helping the middle-class Americans who need it most?

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