U.S. 'Drowning In Unemployment,' Says Federal Reserve Member
Mr. Fisher's comments, delivered during a speech at the University of
Texas at Dallas, highlighted the intractable nature of unemployment
over the last few years and the folly of so-called "quantitative easing"
by the Federal Reserve.
"A short-term fix to the fiscal cliff will do
nothing but push out the envelope of indecision and we will continue to
be plagued by high unemployment," Fisher said. "We've had a recovery that is quite disappointing....We've never been here before so none of us
know how we're going to navigate out of this particular quadrant of the
liquidity pool in this ocean of money. And what I'm concerned about is
that we may be painting ourselves into a corner," he said.
No comments:
Post a Comment