CNBC commentator Larry Kudlow lit a dollar bill on fire on Thursday, declaring on live television that the dollar "is going down in flames."
He was responding to Wednesday's move by the Federal Reserve that it will inject more than $1 trillion into the economy by buying Treasury bonds and mortgage securities. The dollar has tumbled since the announcement — dropping 5% against the euro and 2% against the yen — over concern the Fed's move will spur inflation.
Earlier this month, Kudlow's name was mentioned as a possible Republican senatorial candidate against Sen. Chris Dodd in the 2010 election. Kudlow worked as an economic aide in White House under President Reagan.
"This is the value of our money," Kudlow joked as he put a lighter to a dollar bill.
"Unfortunately we are going to see a lot of people lighting flame to the U.S. dollar, which is going down in flames," he said.
"No one is thinking about it. No one is worrying about it. It is going down in flames," he said.
The Treasury Department's Bureau of Engraving and Printing reports that the "defacement of currency" is a violation of federal law.
