Open letter to Fed in NY Times from prominent thinkers: scrap QE2

A group of prominent Republican-leaning economists, coordinating with Republican lawmakers and political strategists, is launching a campaign this week calling on Fed Chairman Ben Bernanke to drop his plan to buy $600 billion in additional U.S. Treasury bonds.
Former Congressional Budget Office director Douglas Holtz-Eakin is among economists urging Fed Chairman Ben Bernanke to drop plans for big new bond purchases. “The planned asset purchases risk currency debasement and inflation, and we do not think they will achieve the Fed's objective of promoting employment,” they say in an open letter to be published as ads this week in The Wall Street Journal and the New York Times

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