It’s time to start talking about real fiscal policies and stop relying on the Federal Reserve to fix the country's problems, former Utah Gov. Jon Huntsman said Thursday on CNBC’s “Squawk Box.”
“The Fed has become increasingly this repair shop for broken fiscal policy,” Huntsman said. “At some point you’ve got to say they can’t do anything more. There’s no Ritalin in the medicine cabinet.”
Huntsman, who sought the 2012 GOP presidential candidacy, said leaders need to start addressing the country’s fiscal issues instead of relying on monetary policy.
“We're right to this critically important time in our economic history,” he said. “You can't devalue your way to prosperity. You can't bash your currency and expect your great export industries to succeed longer term because everyone's going to follow suit.”