Banks complain about QE3 to Fed

Banks complain about QE3 to Fed

The bankers seemed lukewarm at best about the Fed’s $85 billion-per-month asset purchase program, saying it provided some support for a slow recovery but wondered whether it was the right policy to boost growth and employment.
The bankers were also concerned about the Fed’s exit strategy, noting that unwinding the easy policy stance may be painful for consumers and businesses.
And after buying so many mortgage-backed securities over the past five years, the Fed “may now be perceived as integral to the housing finance system.”