Now he have changed his mind.
He suggests that this exercise gone wild and now hyperinflation is a real risk.
That represents change of his view by 180 degree and his current plea is in fact quite dramatic.
http://blogs.telegraph.co.uk/finance/am ... d-part-ii/
Ambrose Evans Pritchard wrote:I apologise to readers around the world for having defended the emergency stimulus policies of the US Federal Reserve, and for arguing like an imbecile naif that the Fed would not succumb to drug addiction, political abuse, and mad intoxicated debauchery, once it began taking its first shots of quantitative easing...
An interesting reading.