Quoted in the full article: San Francisco Fed President John Williams, Cleveland Fed President Sandra Pianalto, New York Fed President Bill Dudley, Richard Fisher of Dallas, Narayana Kocherlakota of Minneapolis and Charles Plosser of Philadelphia,  Federal Reserve Bank of St. Louis President James Bullard. See photo below.

More and more Federal Reserve officials are warming up to the notion that the economy needs a third round of quantitative easing, very loose monetary stimulus programs designed to pump up the economy when normal tools like interest-rate cuts aren’t enough.

Bernanke Lies Under Oath re: Monetizing Debt:

Under quantitative easing, the Federal Reserve steps in and buys assets from banks like Treasury bonds or mortgage-backed securities with freshly printed money.

The move is designed to stimulate the economy to avoid deflation and encourage hiring, although critics say it floods the system full of dollars and fuels inflationary pressures and messes with exchange rates and commodities prices.

“Hopefully, we will keep this momentum going in 2012,” Bullard told reporters recently after a speech in Chicago, according to Bloomberg[just until Obama is re-elected, then the crash can go forward, stupid American people!]

Read more: http://www.moneynews.com/Headline/Fed-Easing-Economic-Doubts/2012/01/13/id/424097

Go Behind the Fed’s Closed Doors – All Federal Reserve policy meetings take place behind closed doors. These are photos from the June meeting, provided by the Fed, which offer a unique look inside. http://blogs.wsj.com/economics/2011/12/13/what-happens-at-a-fed-meeting-a-look-inside/