Bloomberg Hedge Fund Summit 2012: Allan Meltzer Vs. Larry Meyer

Bloomberg Hedge Fund Summit 2012: next up, Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy, Tepper School of Business, Carnegie Mellon University and former Fed Governor, Laurence  (Larry) H. Meyer debate macro policy.

Meltzer is scared about inflation, and says that no one should have the power to create as much power as the Fed, which has ballooned its balance sheet. He calls the power dangerous. He says people are buying farmland, TIPs, and other signs that inflation is picking up. However, it has not shown up in numbers, because companies consider to cost...