The President of the Dallas Fed has finally said something most of us already knew.
The United States is "drowning in unemployment," its economy is running at stall speed and inflation is "not a problem," but easier monetary policy is not the answer, one of the Federal Reserve's most hawkish policymakers said on Friday.
"We've had a recovery that is quite disappointing," Dallas Fed President Richard Fisher.
He goes on to discuss inflation saying it is not a problem right now. I am of the opinion that unless some thing is not done to contain this money printing, inflation could go out of control. In fact, inflation is already here, just go an look at food prices. Perhaps Richard needs to get out of the office and do some food shopping!But without more certainty on tax policy and regulation, he said, "all the monetary accommodation in the world" will not get businesses hiring again.