Fed policy makers are "making it up as they go along," former Fed vice chairman Alan Blinder...

|By:, SA News Editor

Fed policy makers are "making it up as they go along," former Fed vice chairman Alan Blinder says, and the impending program of asset purchases is “a lot like what the Japanese did.” The U.S. bond market is “deeper and more liquid" than Japan's, which will make it harder for the Fed to lower interest rates through purchases.