Tuesday, February 8, 2011

Good Fed, Bad Fed Routine: Dallas's Fisher Weighs In

Dallas Fed chief (and CFR member and Trilateralist, among others, a thoroughbred insider elite) Richard Fisher, who many consider to be the next Fed chairman, speaks against further "easing". Right.

A very sarcastic comment from Zero Hedge:

The "good money printer - bad money printer" routine is starting to get old. Dallas Fed's Fisher joins Richmond's (non-voting) Lacker in saying no more QE. Earlier today the Dallas Fed president was heard saying anathema things like: "Very eary of further expansion of Fed's Balance Sheet", "Fed is Pushing the Envelope with Asset Purchases" and concludes that we would "probably" dissent in any vote for further QE. Um, great. You have vote Dick, use it. Same goes for Plosser and all the other wannabe Hoenigs. Oh yeah, also while you are at it, please explain just who will be buying the $4 trillion in debt to be issued in the next two years (ref: $32 Billion 3 Year Auction Prices At 1.349% As Foreign Bid Plunges And Fed Indirectly Pockets 62% Of Issue).

Philadelphia Fed chief Plosser (voting member) was supposed to be one of the dissenting voice, along with Fisher. They both had their first chance in January's FOMC to say no to Ben. Not a peep.


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