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Fed's Fisher opposes more easing ('reckless'?)

Fed's Fisher opposes more easing (by Greg Robb)

WASHINGTON (MarketWatch) - Despite a "hue and cry of financial markets," the Federal Reserve should refrain from further easing, said Dallas Federal Reserve Bank President Richard Fisher Tuesday. In a speech in St. Andrews, Scotland, Fisher questioned whether more quantitative easing would do any good. Businesses are more concerned with the lack of direction for the future of the federal government's tax and spending policy. "If job-creating businesses have no idea what their taxes will be, are clueless about how federal spending will impact their customers or their own businesses and cannot budget personnel costs... how could additional monetary policy be stimulative?" he asked. More easing would be "a form of piling on the already enormous uncertainty and angst that businesses face with our reckless fiscal policy," Fisher said.