What do you think?
The idea behind the program, known as quantitative easing, is to push down borrowing costs for home purchases and other investments, freeing up household cash. With consumers spending more, businesses are expected to boost hiring to meet the demand.
The trouble with that logic, Fisher said on Friday, is that businesses cannot make decisions about hiring as long as tax policy is in the air. Of particular concern is a raft of spending cuts and tax increases dubbed the 'fiscal cliff' that looms at the end of the year.
"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.
Unemployment has been above 8 percent for more than three years; inflation is currently below the Fed's goal of 2 percent.
Fisher, who opposed the new round of stimulus, said he agrees that the issue of the day is jobs and putting people back to work, but was concerned that the Fed could lose its focus on inflation.
"I do think that it would be a dangerous thing if we were to abandon containing inflation and inflation expectations to achieve employment targets," Fisher told reporters after the speech. "We have to make sure that we carefully work on both fronts."
I think easing, as it currently stands, is just another way to launder money for the Liberal campaign.
As the saying goes, "It's looking good so far."
