"FRB Dallas President Richard Fisher, an outspoken critic of the Fed’s unconventional monetary policy easing programs, is not a voting member of the FOMC this year. However, he undoubtedly lashed out at QE3 Forever during the latest meeting of the Fed’s policy-setting committee. He shared his dissident's views with the public on last Wednesday, September 19, in a
speech before the Harvard Club of NYC.
His most sarcastic punch line: “We are blessed at the Fed with sophisticated econometric models and superb analysts. … The truth, however, is that nobody on the committee, nor on our staffs at the Board of Governors and the 12 Banks, really knows what is holding back the economy. Nobody really knows what will work to get the economy back on course.” It was a not-too-subtle dig at Fed Chairman Ben Bernanke’s recent Jackson Hole speech, in which he claimed that the Fed’s econometric models confirmed that the Fed’s previous unconventional policy measures had worked to boost economic growth and lower the unemployment rate, though the jobless situation remained “grave” by his own admission. "
speech before the Harvard Club of NYC.
His most sarcastic punch line: “We are blessed at the Fed with sophisticated econometric models and superb analysts. … The truth, however, is that nobody on the committee, nor on our staffs at the Board of Governors and the 12 Banks, really knows what is holding back the economy. Nobody really knows what will work to get the economy back on course.” It was a not-too-subtle dig at Fed Chairman Ben Bernanke’s recent Jackson Hole speech, in which he claimed that the Fed’s econometric models confirmed that the Fed’s previous unconventional policy measures had worked to boost economic growth and lower the unemployment rate, though the jobless situation remained “grave” by his own admission. "
RSS Feed
