Maybe the Fed isn’t as intent on propping up Wall Street as some (myself included) presume. 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.