By Richard W. Fisher – President and CEO, Federal Reserve Bank of Dallas
Econintersect: Dallas Fed Governor Richard Fisher has expressed his support of ending QE sooner rather than later. On Tuesday 14 January 2014, in a speech before the National Association of Corporate Directors, Fisher used a number of metaphors for the tasks he sees confronting the FOMC (Fed Open Market Committee). Here is one quote:
Things often look better when one is under the influence of free-flowing liquidity. This is one reason why William McChesney Martin, the longest-serving Fed chairman in our institution’s 100-year history, famously said that the Fed’s job is to take away the punchbowl just as the party gets going.
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Beer Goggles, Monetary Camels, the Eye of the Needle and the First Law of Holes
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