Palin ‘Deeply Concerned’ About Fed’s Decision To Purchase Government Debt


Palin 'deeply concerned' about Fed's decision to purchase government debtIn response to the Federal Reserve's announcement that it will purchase up to $900 billion in Treasury bonds by June 2011 in an effort to stimulate the economy, Sarah Palin has voiced her concerns.

According to The Huffington Post, the former Alaska governor and vice presidential candidate is urging Federal Reserve Chairman Ben Bernanke to "cease and desist" the central bank's attempt to jumpstart the economy in that way. In prepared remarks that Palin was set to deliver in front of a trade association in Phoenix, she said she is "deeply concerned" with the plan of "printing [money] out of thin air."

The news provider reports that Palin's statements will likely appeal to Tea Party supporters who are suspicious of the Federal Reserve, which creates the money that goes into circulation in the United States.

Members of the Fed are divided about the commitment to buy up to $900 billion in government debt. One side believes the purchase could lead to asset bubbles and runaway inflation, while supporters claim that there is too much of a risk of another recession to not act.

According to Bloomberg, Richard Fisher, president of the Federal Reserve Bank of Dallas, said that the large-scale Treasury purchases are "the wrong medicine for the ailment from which our economy is suffering." During a speech on Nov. 8, Fisher projected that the central bank's decision could ultimately weaken the dollar.

Personal Liberty

Special To Personal Liberty

You Sound Off! is written by our readers and appears the last Wednesday of each month. If you would like to submit an article or letter to the editor for consideration for You Sound Off!, send it to by the Friday before the last Wednesday of the month. To be considered, a submission should be 750 words or less and must include the writer's name, address and a telephone number. Only the writer's name will be published. Anonymous submissions will not be considered.

Join the Discussion

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.