Never heard of them. The reason probably is because anyone with brains wouldn't take the fear of stagflation seriously.

The Consumer Price Index has been flat since March. Considering we're recovering from a depression (not from stagflation, as Egan-Jones seem to think), we should have prices that are upticking. But we're not. Prices have remained steady for most of the year.

ftp://ftp.bls.gov/pub/special.requests/cpi/cpiai.txt

I would further note that the Fed does indeed have a dual mandate. It's purpose is to limit inflation and keep unemployment low. I think it's long past time that the Fed worry more about the latter than the former.

The Fed is forced to take action, since Congress won't do anything. Despite Bernanke (Dubya's Fed appointee, mind you) coming to Congress time and time and time again, hat in hand, pleading for them to do something to stimulate the economy, they have refused.

So if Congress won't do anything to stimulate the economy, then the Fed has to.

And for anyone who criticizes a new round of QE, remember, inflation has been nearly flat, and banks aren't declaring bankruptcy anymore.

A new round of QE isn't the best option. It would be better if Congress put some serious money into infrastructure. But since the tea bagger Congress can't get it's shit together to pass a budget, or hell, even keep the lights on at the FAA or the Post Office, the Fed is all we've got left. And something is better than nothing.

...unless, of course, if you WANT the economy to get worse....

Breitbart iOS lying and you are too stupid to realize he is lying. Moody’s has warned but have not done so. You can thank Ryan the intellectual economist for previous downgrade. Ryan has an Undergraduate Degree from Miami University and thinks he has a PhD from London School of Economics.

Then again, considering most Right Wing republicans does not even have GED, Ryan does have PhD, comparatively speaking.

In your case, if you had higher than 5th grade, you would know who Breitbart is and what he does, he is smart like Sarah Palin, feeds you shit you guys lap up and walks all the way to the bank smiling with your $.