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Monday, September 12, 2011

New And Different

Life is like a box of Fed speeches - you never know what you are going to get. Fisher's today is definitely a new flavor:

He comes out swinging!


"The Panic of 2008." "Veterinary fix." "
It is no secret that I thought the second round of quantitative easing (QE2) ran that risk. I could not support it when it was proposed because I saw no analytically sound justification that its purported benefits would outweigh its likely costs. "

You have to read this speech! The final line:
With that, I’ll stop. And in the best tradition of central banking, I’d be happy to avoid answering any questions you might have.



Comments:
That last line sounds like Fisher's retiring.
 
From the link...

"This chart is most definitely not a pretty sight."

Just once I'd like to see along-term chart that was a pretty sight, lol. Sigh.
 
The whole speech sounds like an exit speech. He was having fun....
 
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