LITTLE ROCK, Arkansas The Federal Reserve's powerful chairman and architect of the U.S. central bank's massive bond-buying program is serious about questioning its effectiveness, a Fed policymaker known for his opposition to the program said on Thursday.
"The difference I have with my colleagues is the question of efficacy," Richard Fisher, president of the Dallas Federal Reserve Bank, told a group of CEOs in Little Rock, Arkansas. "To his great credit, Chairman Bernanke has made this the driving point of every discussion: Is this working or is it not working?"
Fisher, repeating comments he made just hours earlier in his hometown of Dallas, said he believes it is not.
The Fed, he said, has done enough, and it is up to Congress to create tax and regulatory certainty so that businesses feel comfortable hiring again.
"I am not alone" at the Fed in doubting the program's effectiveness, he said.
(Reporting by Ann Saphir; Editing by Leslie Adler)