Mon Mar 7, 2011
A senior U.S. Federal Reserve official warned on Monday that he would vote to scale back or stop the central bank's $600 billion bond-buying program if it proves to be "demonstrably counterproductive."
Dallas Federal Reserve Bank President Richard Fisher, who has repeatedly said he would not support any more bond buying after the program ends in June, said he was doubtful the purchases were doing much good.
"I remain doubtful enough as to its efficacy that if at any time between now and June, it should prove demonstrably counterproductive, I will vote to curtail or perhaps discontinue it," Fisher said in remarks prepared for delivery to an Institute of International Bankers' conference in Washington.
"The liquidity tanks are full, if not brimming over. The Fed has done its job," he said.
http://twurl.nl/yp3zhi
A senior U.S. Federal Reserve official warned on Monday that he would vote to scale back or stop the central bank's $600 billion bond-buying program if it proves to be "demonstrably counterproductive."
Dallas Federal Reserve Bank President Richard Fisher, who has repeatedly said he would not support any more bond buying after the program ends in June, said he was doubtful the purchases were doing much good.
"I remain doubtful enough as to its efficacy that if at any time between now and June, it should prove demonstrably counterproductive, I will vote to curtail or perhaps discontinue it," Fisher said in remarks prepared for delivery to an Institute of International Bankers' conference in Washington.
"The liquidity tanks are full, if not brimming over. The Fed has done its job," he said.
http://twurl.nl/yp3zhi