Oh God, The Fed Is Never Going to Pull Out
When is it going to get better? When will they ever be able to remove the monetary crutch? You and I both know they can't, and I'm fairly sure that brilliant little bastard Fisher knows it too, he's just too smart to say it out loud.
"We have filled the tanks, there is plenty of liquidity. We need no more," Dallas Fed President Richard Fisher, an outspoken policy hawk, said at a business event in London.
"The question is finding the right time to effect an exit strategy. We're not there yet. This is a matter of judgment and feel, and a more robust economic situation".
Funny, I thought the economy was cured in March of 2009, isn't that the line we're going with? So what's with the delay? Pull out already!
Sadly, I don't think Fisher's colleagues agree with him on the concept of too much monetary support for an allegedly healed but still weak economy.
New York Fed President William Dudley, a close ally of Chairman Ben Bernanke, painted a mixed picture of the economy, tempering recent signs the recovery is gaining speed with warnings that it could just as easily stall out.
"Nothing has been decided," he said of QE3, in which the Fed would make large-scale asset purchases in an attempt to lower rates and give the economy another controversial shot of adrenaline.
"It all depends on how the economy evolves," Dudley added. "It's about costs and benefits, and if we get to a point where we think the benefits of another program of QE outweigh the costs, then we'll certainly do so."
WHAT THE FUCK is so difficult about this math? More QE = bad idea. Pulling out = good idea. I'm sorry that pulling out will mean total collapse for a system hooked on free Fed funny money but them's the breaks, kid.