COLLEGE STATION, Texas A top Federal Reserve official on Thursday blamed budgetary squabbling among U.S. lawmakers for holding back the U.S. economic recovery, even as the central bank goes all-out to help it along.
Dallas Federal Reserve Bank President Richard Fisher told an audience at Texas A&M University that he is "frustrated that people are throwing sand in the engine" of the U.S. economy.
Lawmakers are "pulling on the brake" he said, pointing to a picture of Congress.
Meanwhile, he said, the Fed has been filling the economy's gas tanks with its super-easy monetary policy.
The Fed is buying $85 billion in Treasuries and mortgage-backed bonds to boost investment and encourage businesses to hire, a program Fisher has long opposed as being ineffective in the face of fiscal bickering in Washington.
The U.S. unemployment rate is still high and "yet to be satisfactory," he said.
(Reporting by Terry Wade, Writing by Ann Saphir; Editing by Chizu Nomiyama)