Fed Chair Hopefuls Are “Lapdogs for the Establishment”: Jim Rogers
By Bernice Napach
Tue, Sep 17, 2013
At last count, more than 350 economists, 38 female House Democrats and about 17 Senators have signed letters to President Obama urging him to nominate Fed Vice Chair Janet Yellen as the next Chairman of the Fed. She emerged as the frontrunner for the job now that Larry Summers, a former economic advisor to the president and Treasury Secretary under President Clinton, has withdrawn his name from consideration.
While Congressional members and economists push their pick for Fed chair, international investor Jim Rogers tells The Daily Ticker: it doesn’t matter who Obama picks because all Fed Chair candidates “are lapdogs for the establishment.” He expects any new Fed chair will continue current policy, which he says is “insane.”
“They should stop all of this, printing $1 trillion every year,” says Rogers, author of “Street Smarts: Adventures on the Road and in the Markets.” He explains: “The world will suffer very badly, very badly when this comes to an end. It’s an artificial sea of liquidity.”