Feb 11 Fiscal policy and a "feckless" federal
government are dragging on U.S. economic growth, a top Federal
Reserve official said on Tuesday.
Dallas Federal Reserve Bank President Richard Fisher said
central bankers had boosted money supply but fiscal policymakers
had not provided incentives for businesses to increase
investment, instead wasting their time in bickering.
"Fiscal policy is not only 'not an ally of U.S. growth,' it
is its enemy," Fisher said, according to excerpts of a speech
prepared for a meeting of Financial Executives International in
"It is my firm belief that the fault in our economy lies not
in monetary policy but in a feckless federal government that
simply cannot get its fiscal and regulatory policy geared
so as to encourage business to take the copious amount of money
we at the Fed have created and put it to work creating jobs and
growing our economy."