Maybe the Fed isn’t as intent on propping up Wall Street as some (myself included) presume. Β Here are some comments from Fed official Richard Fisher today (via Reuters):
“There will be no QE3,” Dallas Fed President Richard Fisher told reporters after a speech here. “I will support no QE3, no additional mortgage-backed securities, no additional Treasuries.”
“Wall Street keeps dangling QE3 out there,” Fisher said. “I think it’s a fantasy of Wall Street – it’s not going to happen, it’s not necessary.”
The Fed has already taken easy monetary policy too far, he said, filling the policy “gas tank” too full.
![Cullen Roche](https://pragcap.com/wp-content/uploads/2022/01/Headshot2022-1-144x144.png)
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.
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