Fed created 'gross distortions,' says Ron Paul

Fed created 'gross distortions,' says Ron Paul

“There are still structural problems in the economy, and it’s all related to monetary policy, and of course regulations and spending by our Congress,” he said on “Squawk on the Street.”

“They say they’re going to taper, which means they have to buy less. … But then the Fed says, ‘Well, we’re going to guarantee that interest rates won’t rise.’ “But how do you keep interest rates from rising? You have to buy stuff,” he said. “In some ways it’s a little bit schizophrenic.