Fisher: do not want to expand the Fed balance sheet to support the U.S. economy
Sina Finance YORK, September 2 morning news, Dallas Fed President Richard - Fisher (Richard Fisher) said yesterday he did not want to expand the Fed's balance sheet to stimulating economic growth for the U.S. momentum, unless the government first of all to take additional tax and regulatory policies to promote job growth.
Fisher, issued a statement today said: "unless the government first introduced fiscal and regulatory policies to meet the needs of job creation, or I do not want to do so; if no such policy, then take further intermediation policies may be as is 'pushing on a string' ", or lead to increased inflation.
so-called "pushing on a string" (pushing on a string), a famous British economist John - Maynard = Keynes (John Maynard Keynes) is a concept, refers to monetary policy effects are not symmetry, that is obvious effects of monetary policy on inflation, but deflation, but to little avail for.
Fisher of the speech that Federal Reserve Chairman Ben - Bernanke (Ben S. Bernanke) may be facing difficult to convince some of the local Federal Reserve Bank to take further monetary easing to support problem. Bernanke had said last week that the Fed "will take all measures within its ability" to maintain the economic recovery process; He added that if economic growth is slowing down, then the Fed may buy more bonds.
previously reported, according to revised Commerce Department data showed U.S. economic growth in the second quarter, annual growth rate of 1.6%, lower than the previous preliminary report of the annual rate of growth of 2.4%. Bloomberg survey showed, according to the survey, the average forecast of 67 economists in the second half of the 6 months period, the U.S. economy will grow by an average annual rate of growth of 2.55%, lower than the previously expected 2.8% annual rate of growth . (Civil and military)
