WOW! He openly admits that in the real world, ending this policy will be nearly impossible.
"Like an army falling, one by one by one" - Linkin Park
He's the only anti-hyperinflation member of the board.
This guy needs psychiatric help. They need to replace him.
Actually that is the second statement from a Fed chief in the past couple years that shows they speak what they think , the other being that the US is at full employment.
Seems like most of the commentary centered around the idea that the Fed has to stay active because Washington DC is broken. Really, this fiscal cliff and debt ceiling stuff is just ridiculous. No reason for the government to throw the economy off track by making the future less predictable.
The Matrix is a system, Neo. That system is our enemy. But when you're inside, you look around, what do you see? Businessmen, teachers, lawyers, carpenters. The very minds of the people we are trying to save. But until we do, these people are still a part of that system and that makes them our enemy. You have to understand, most of these people are not ready to be unplugged. And many of them are so inured, so hopelessly dependent on the system, that they will fight to protect it.
He's one of the more reasonable members of the Fed.
I'm sure he'll be gone soon.
I would certainly agree with him that the Fed balance sheet is very "engorged".
with minimal present gains and soaring future risks from their actions."What you see is what you get here," Fisher said. "We have a hyper-accommodative monetary policy here ... cheap and abundant money that the Fed has made widely available."
I am Zippy and I approve of this message. But you don't have to.
Livin' it up at The Hotel California What a nice surprise Bring your alibis...... They stab it with their steely knives, But they just can't kill the beast
But you sure can count on the central bank to carry a government bureaucracy for fourty years.Dallas Fed President Richard Fisher "You cannot count on a central bank to carry an economy."
It has been out of control almost my entire lifetime.
When they counterfeit the money supply they don't create any wealth to add to the pile of world assets. What they do with their fake money is shift the boundary on the pile of stuff. All the time many of us have been squirreling away our savings for things like retirement they have been slithering in the back door and making off with it for their wars against us on everything.
I think they have now reached the point they have broken the camels back. Occupations that have stood the test of time are no longer able to keep up with the fake money presses.