PALO ALTO, California (Reuters) - Dallas Federal Reserve Bank President Richard Fisher, who opposed the U.S. central bank’s latest round of quantitative easing on the grounds that it would be ineffective, on Thursday acknowledged it was starting to push mortgage rates downward.
”I am happy to see it working, because it wasn’t working right away,“ Fisher told reporters after a speech on the campus of Stanford University. ”If it is beginning to work, you would ask yourself, ‘Why would we need to do more?’ Or, ‘At what rate should we do more?’ or ‘How long we should do it?'“ I do not have the answers.”
Reporting by Ann Saphir