By Joe Kovacs, WND
Michele: 'Does anyone honestly believe adding inflation would be a good thing?'
Fresh from her victory in last night's election, U.S. Rep. Michele Bachmann says she begged the Federal Reserve not to go ahead with controversial plans to monetize the national debt, and is calling its purchase of hundreds of billions of dollars in Treasury bonds "a disaster" for America.
WASHINGTON - NOVEMBER 05: Rep. Michele Bachmann (R-MN) leads a news conference and rally on the West Front of the U.S. Capitol November 5, 2009 in Washington, DC. Thousands of people, including many Republican members of the House of Representatives, attended the rally to voice their opposition to the House version of the health care reform legislation moving through Congress. (Photo by Chip Somodevilla/Getty Images)
The U.S. central bank, hoping to create growth in the sluggish economy, decided today to proceed with its scheme, buying $600 billion of federal government debt over the next eight months.
Officials also indicated they were ready to purchase even more bonds if inflation remained too low and unemployment too high.
"This is a very serious move by the Fed," Bachmann, a member of the House Financial Services Committee, told radio host Glenn Beck today. "What this means is intentionally the Federal Reserve will be spiking inflation. They think that's good for the country. Does anyone honestly believe adding inflation would be a good thing to the country? Well, the Federal Reserve does. This is a disaster."

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