Policy impact of Fed bond buying fading over time: Fed's Fisher
WASHINGTON (Reuters) - Massive asset purchases by the U.S. Federal Reserve likely faces diminishing returns in terms of the program's desired monetary policy impact, a senior Fed official said on Wednesday.
"With regard to my own views on monetary policy ... I believe that it is increasingly having a lesser impact as we go through time," Dallas Federal Reserve President Richard Fisher told reporters in a response to a question about asset buying.
"Rates are the lowest they have been in a lifetime. But they have not come down as quickly as I would like ... to see, and I don't think, therefore, our policy has been as effective as we would like it to be," Fisher said.
He was speaking after delivering a speech at the National Press Club on "too big to fail banks."
- Co-pilot spoke last words heard from missing Malaysian plane |
- U.S., EU impose sanctions after Crimea moves to join Russia |
- Crimeans vote over 90 percent to quit Ukraine for Russia |
- China rejects North Korean crimes report, hits chance of prosecution
- A plunge in U.S. preschool obesity? Not so fast, experts say