You said earlier there is no inflation. Inflation can be in consumer prices, it can be in commodities, it can be in wages, it can also be in assets, and we are in a gigantic asset bubble around the world with prices of real estate having risen a lot. Now I do not deny that some property prices have come down, like in the U.S. we had a big decline after 2007. Since then we've also had a recovery. The high end is at record highs, in the Hamptons, in Mayfair, London, in Hong Kong, Singapore and so forth, and we have a high inflation overseas. So I think that one day this asset inflation will lead to a deflationary collapse one way or the other. We don't know yet what will cause it, but the Fed didn't know in 2007 that despite of their easy monetary policies, property prices in some areas would fall by 50%.
He also said that the Fed is "boxed in" with no exit strategy and they could increase QE.