Republicans Plan Defeat of Successful Stimulus Plan


This week, a group of right-leaning economists who serve as advisors to Republican lawmakers plan to launch a campaign calling for Federal Reserve chairman Ben Bernanke to drop his $600 billion quantitative-easing plan. Why do they hate it?

"The planned asset purchases risk currency debasement and inflation, and we do not think they will achieve the Fed's objective of promoting employment," they say in an open letter to be published as ads this week in The Wall Street Journal and the New York Times.

The other reason might be that the plan is already showing signs of being successful.

Fresh Attack on Fed Move [WSJ]
Options Showing Quantitative Easing Working Before It Begins [Bloomberg]