Fed's Fisher: printing money does 'no good' if firms won't hire

NACOGDOCHES, Texas Wed May 22, 2013 2:24pm EDT

Federal Reserve Bank of Dallas President Richard Fisher speaks about the concept of breaking up 'too big to fail' banks to a breakout group at the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, March 16, 2013. REUTERS/Jonathan Ernst

Federal Reserve Bank of Dallas President Richard Fisher speaks about the concept of breaking up 'too big to fail' banks to a breakout group at the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, March 16, 2013.

Credit: Reuters/Jonathan Ernst

NACOGDOCHES, Texas (Reuters) - The Federal Reserve's super-easy monetary policies will do little to boost jobs if businesses remain uncertain about the outlook for taxes, government spending, and regulation, a top Fed official said on Wednesday.

Companies are sitting on "massive" amounts of money, Dallas Fed President Richard Fisher said, but it "does no good to print money" if companies are hesitant to hire amid uncertainties.

The Fed is buying $85 billion of Treasuries and mortgage-backed securities each month in an effort to boost growth and hiring. Fisher, who does not vote on monetary policy this year at the Fed's policy meetings, has been a vocal opponent of the program.

(Reporting by Eileen O'Grady, writing by Ann Saphir; Editing by Chizu Nomiyama)

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