Romney adviser Hubbard: More 'QE' from Fed would be a mistake

Romney adviser Hubbard: More QE a mistake - MarketWatch

More asset purchases by the Federal Reserve would be a "mistake" and would not help the real economy, said Glenn Hubbard, the dean of the Columbia University Graduate School of Business and a senior adviser to Republican presidential candidate Mitt Romney. Hubbard told MarketWatch that QE has brought down bond yields but its impact on the real economy remains in doubt. "I don't think that another 20 basis points on a ten-year yield is what is holding back the U.S. economy," he said. Hubbard is mentioned as a possible replacement for Fed Chief Ben Bernanke if Romney is elected. More asset purchases also run political risks for the Fed, he said.