Fisher is speaking in Australia. I had his earlier comments here, but more crossing the wires sporadically:
- US economy is ‘hog-tied’ by ineffective, counterproductive government
- US government has played a suppressive role in current recovery, running counter to Fed policy
- Says will be data-dependent on tapering
- Corporate balance sheets stronger than ever
- As long as inflation expectations are tame, the Fed can keep foot on throttle
- Concerned corporate credit spreads have narrowed too much
- Does not see Fed balance sheet rising to $6tln or more
- Does not see purchase program going on indefinitely of getting larger
- Can see holding Fed funds rate low for a very long time
- Worried of political consequences should Fed suffer losses on bond holdings
