Former U.S. Treasury Secretary and Goldman Sachs and Citigroup veteran Robert Rubin warned that U.S. political discourse needs to change because the Federal Reserve's current monetary policy has gone as far as it can go. Rubin spoke today at the TradeTech financial industry conference held in New York City.
"The first round of quantitative easing [QE 1] was necessary," Rubin says. "[The second round] was not as necessary."
He sees the danger that a third round of quantitative easing would increase the money supply, but undermine confidence in the Fed's inflation-fighting.
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