Political Quotes

“A recent Bloomberg analysis contains figures that help us put this staggering number--$4 trillion--into perspective. I also ask unanimous consent to have printed in the Record that Bloomberg article. There being no objection, the material was ordered to be printed in the Record, as follows: [From Bloomberg, Dec. 17, 2013] Fed's $4 Trillion in Assets Draw Lawmakers' Scrutiny (By Jeff Kearns) The Federal Reserve's balance sheet is poised to exceed $4 trillion, prompting warnings its record easing is inflating asset-price bubbles and drawing renewed lawmaker scrutiny just as Janet Yellen prepares to take charge. The Fed's assets rose to a record $3.99 trillion on Dec. 11, up from $2.82 trillion in September 2012, when it embarked on a third round of bond buying. Policy makers meet today and tomorrow to decide whether to start curtailing the $85 billion monthly pace of purchases. Among Fed officials, ``there's discomfort in the sense that the portfolio could grow almost without limit,'' former Fed Vice Chairman Donald Kohn said last week during a panel discussion in Washington. Kohn said there was ``discomfort in the potential financial stability effects'' and added: ``There's some legitimacy in those discomforts.'' Fed Governor Jeremy Stein has said some credit markets, such as corporate debt, show signs of excessive risk-taking, while not posing a threat to financial stability.…”