Cashin: Excess bank reserves are a worrying 1930s parallel

08/26/13

Inflation has been notably absent from the economy this summer, despite bullish moves in gold and a continued debate over the tapering of asset purchases by the Federal Reserve.

According to Art Cashin, director of floor operations at UBS Financial Services, thecentral bank's effect on the financial system has worrying parallels to the period leading up to the Great Depression.

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