Federal Reserve Chairman Ben Bernanke's decision to continue the economic stimulus
may have pushed the stock market to record levels, but it's not so good for other investments, Fox Business Network's Stuart Varney says.
"Ben prints money, pushes interest rates down. You go out and you try to invest money. Where are you going to put it?" Varney said Wednesday on Fox News Channel's "Cavuto." Bank CDs, money funds and bonds all yield very little as long as such policies continue, he said.
"I think the happiest guy in the country today is Barack Obama," Varney said. "Ben Bernanke is going to keep on printing that money, churning it out, at least into the near future. And that's offering cover for these failed redistribution policies which are really hurting the economy."
Without the current $1 trillion per year the Fed is pumping into the economy, interest rates would be higher and the housing market wouldn't be recovering as much as it has, he said.
"You're going to have to stop sooner or later," Varney warned. "You can't print a trillion a year forever . . . What happens when we stop? I don't know, but it's not going to be pretty."
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