Resolving the federal government's fiscal problems would boost the U.S. economy far more than additional monetary easing from the Federal Reserve, Dallas Fed President Richard Fisher said Wednesday.
“I don’t believe any amount of monetary stimulus is going to deal with this uncertainty of companies to budget and plan,” Fisher said on CNBC’s “Closing Bell.”
He reiterated that the Fed (explain this) has already “put a lot out there…[and] it has not been used."
Fisher, who until this year was a voting member of the Fed's policy-setting Open Market Committee, is known for being one of the central bank's most outspoken voices against additonal quantitative easing(explain this).
Most Wall Street watchers consider him to be the de-facto leader of the "hawkish camp" of Fed officials who remain concerned about potentially inflationary risks of easy monetary policy.
Indeed, Fisher added that there’s a bigger risk that the Fed could go too far. “I don’t know what the line is here, but I sense we have fast approached it,” he said.