The Fed's stimulus faces fresh attacks

WSJ reports that Ben Bernanke et al's diagnosis of the crisis is wrong and the prescription is extremely risky.  The Fed claims that their supporting QE2 is a question of what they call "left tail risk", or the risk of unexpected deflation.  A lot of people are piling on. 

One of the biggest risks is starting a currency war as China and Brazil are piling on with their own capital controls. 


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