US Representative Phil Roe (The Herald/ Archived Photo)

In many ways our country stands at a philosophical crossroads when it comes to the economy, and for many Sevier County residents, current policies seem to be on the wrong side of the issue.One of the major concerns regarding the economy is the Federal Reserve, but more specifically the recent announcement by Federal Chairman Ben Bernanke that the Central Banking organization will now be purchasing $40 billion in debt a month for an undisclosed period of time in hopes of slowing the financial crisis as part of the third round of Quantitative Easing.

However, this unconventional plan will most likely result in inflation as the money supply will continue to increase as currency is printed without any commodity to back-up its value.

“I am concerned QE3 will lead to inflation and the weakening of our dollar,” said US Representative Phil Roe. “While QE3 could help businesses continue to operate in the short term, there is no guarantee.”

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