John B. Taylor: “The powers are almost like a virus in the body politic of municipal democracy.”

I believe that the quantitative easing that really got underway after the panic in 2009 has not been effective.

The bailout problem is still there. There will be every incentive for the FDIC to provide additional funds to some creditors.

I would characterize it as they held interest rates too low for too long in that period, and that caused excesses in the housing market.

I don't want to see a future where quantitative easing becomes the new monetary policy