Germany Blasts Bernanke: Results of Fed Stimulus Could Be ‘Horrendous’
German Finance Minister Wolfgang Schäuble has sharply criticized the US Federal Reserve’s decision to pump a further $600 billion into the country’s ailing economy. He says the move could create problems for the global economy. Others have joined in the condemnation.
The Germans “get it” – they can more clearly see what is so very dangerous about the moves being made by Ben Bernanke and how those moves will hurt the world economy.
Schäuble has some very harsh words for Øbama and Ben Bernanke regarding what he states is a violation of an agreement or pledge given at the previous G20 summit meeting in Toronto last June.
It is not just Germany that is critical. China also gets it, that this move will hurt the world economy. From this same article:
Criticism has also come from China, with the country’s central bank head, Zhou Xiaochuan saying that the Fed’s move might hurt economies in the rest of the world. “There is a spill over,” he said. Brazil, Indonesia and Japan have also voiced concern.