Doug Noland - The Downside of Do Whatever it Takes

``San Francisco Fed chief John Williams actually got things going Wednesday with his comment (Reuters interview), "If we really get a sustained, disinflationary forecast ... then I think moving back to additional asset purchases in a situation like that should be something we should seriously consider." ... The QE issue is a fascinating one. History is rather clear: once major monetary inflations begin they become nearly impossible to stop. I certainly don't expect the ballooning of the Fed's balance sheet stops at $4.5 TN. There will be no "exit."... ''