Dallas Fed's Fisher Has Had Enough of This Sh*t
I have to admit that it turns me on when they talk like that.
Federal Reserve Bank of Dallas President Richard Fisher said that while the economy is slowing, there’s little risk it will sink back into a recession and policy makers have “done enough” to spur growth.
“I don’t think we’re going to go backwards,” Fisher said in an interview with CNBC today. “I think we’ve done enough,” Fisher said. “We ought to be very careful about not going too far. Interest rates are zero. It’s not the cost of money that’s the issue.”
Fisher said companies are holding back on investment because of uncertainty over government regulations in areas such as health care. He also said he expects the world’s largest economy to slow in the second half of the year as the contribution from business inventories wanes.
Companies are “hoarding cash, they’re holding back, they’re not hiring people, they’re not building plant and equipment at the pace we’d like to see,” Fisher said. “This has nothing to do with monetary policy. We have been as accommodative as possible.”
Amen brother, amen. Now who is going to listen and actually do something about it?
(I wear the badge proudly when he says shit like this, let's just get that out in open now)