Patrick Toomey actually said...

"I think when the Fed, indirectly through bank intermediaries, nevertheless directly is effectively purchasing the debt that we are issuing on a massive scale, something on the order of two-thirds of t..."

"But before the oil--well, we have not actually had supply disruptions. We have had major political turmoil that gives rise to worries about potential supply disruption."

"I sometimes wonder how much we learned from the recent bubbles, and given the current policy, I worry about whether we are not in the process of creating new ones."

"The Taylor Rule would call for a Fed funds rate of about 1 percent right now."