Skip to comments.Fed's Fisher bashes U.S. politicians for slowing economic growth
Posted on 04/04/2014 5:19:55 AM PDT by Red in Blue PA
HONG KONG (Reuters) - Political gridlock is slowing U.S. economic growth, impacting the confidence and budgets of businesses across the country, a top Fed official said here on Friday.
Dallas Federal Reserve Bank President Richard Fisher took a swipe at U.S. politicians and their inability to cooperate, and accused them of impeding jobs growth.
In a question and answer session following a speech he gave at the Asia Society on forward guidance, Fisher referred to "our feckless Congress and poor government leadership" needing to get their act together.
"Someone has to provide the incentive to step on the accelerator and move the economy forward. And right now they're stepping on the brakes," he said. "And that's Democrats and Republicans and the lower and the upper house and a president that just don't work together. Until we have that, we will not have the confidence we need to proceed."
Fisher added that if the U.S. had the right fiscal policy, the country would have an "incredibly fast-moving economy".
(Excerpt) Read more at finance.yahoo.com ...
Hear that Obama and Reid.
This guy is a genius. He must have a PHD in economics. Or he went to his local diner and listened in on what us small folk have been saying.
So, let me get this strait, A federal reserve Bank President, ostensibly a U.S citizen goes over seas and say’s controversial things about the U.S?
He should be resigning withing the day, lets hope.
Why should he resign for stating the bleeding obvious?
The death spiral that the US economy is in today is a result of "Democrats and Republicans and the lower and the upper house and a president" all working together.
Since the dumb Fed Pres doesn’t name names or actual policies that are hurting America this is a useless set of comments that will be used by both sides to bludgeon each other. Nothing of substance was offered by the man.
No government does NOT need to “step on the accelerator”
The results would be disastrous — and involve rampant inflation.
The well for cooperation was poisoned by Pelosi, Reid and 0bama early in the first term and ESPECIALLY after 0bamacare was steamrolled into law. Republican plans were vilified and ignored on every front. and somehow, we’re expected to play nice in that snakepit? It never worked out for Charlie Brown when Lucy held the football, did it?
We have always had congressional differences. It is up to the president to bring them together. We have no such president. That is what a leader does. He gets opposing sides to find common ground instead of saying “It’s my way or the highway”. That doesn’t work now and it wouldn’t have worked in the past.
Never mind stepping on the accelerator, how about the damned government getting the hell out of way and out of our lives.
Everything they touch turns to sh**.
Yeah, democrats should work with US... I’m sure that’s what he meant,right?
Ever notice how the ‘we need to work together’ thing disappears when it’s democrats turn to work with us? It’s like their idea of ‘tolerance’ - which means we have to accept anything they come up with - while they condemn us for things like believing in traditional marriage.
That said, dictatorships are fast ... maybe that’s what this guy wants... if so he can go eff himself...
To the extent the economy is growing, it predominantly doing so because of people being able to recover during the limited respite given by the gridlock. ...including Fracking.
Let’s see if there is all this ‘Let’s work together talk’ if and when Republicans are in the majority. If they do they should spend the first couple of months parroting what the Dems said. We have to pass it to find out what is in it and we won. THen wait for the response.
What we need—what we really need-—what we REEEEALLLY NEED is a lot more inflation.
Step on the gas. Speed things up already.
Pot meet Kettle, LOL
LOL - if we tried that 'pass it to find out what's in it' the press would wake up and and start screaming. They wouldn't roll over and play dead for us.
Obama&Co slowing economic growth just think what it will be in three years.
Because he himself is a subordinate gear in the Machinery of American Politics. He shouldn’t be airing dirty laundry to the public while in a foreign country.
No doubt most on this board would throw a hissy fit if somebody like Harry Reid’s chief of staff or one of Obama’s under secretary said something like this.