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It is the Fed out of ammo.
More stimulus will not help the economy this coming from the lone dissenter from the FOMC's decision this week to extend Operation Twist.
I'm -- -- Peter Barnes lives in Washington with more different lakers' comments Peter.
-- -- that's right larger for lakers' they president of the Federal Reserve Bank of Richmond he is an inflation hawk and he is.
Miss -- no this year on the Fed he thinks the Fed.
Is out of ammunition in a statement this morning -- says quote.
I dissent did it because I do not believe that further monetary stimulus would make a substantial difference for economic growth and employment.
Without increasing inflation by more than would be desirable.
While the outlook for economic growth is clearly weakened in recent weeks the impediments to stronger growth appear to be.
Beyond the capacity of the of monetary policy.
To offset pretty strong words.
He goes on to say -- a significant increase in inflation.
Could threaten the Fed's credibility and make it more difficult for it to achieve its long term goals including maximum employment.
-- -- the only argument for more stimulus is to prevent.
Quote should substantial and persistent fall in inflation emerge monetary stimulus may be appropriate to ensure the return of inflation.
To the F once these 2% goal -- Has a lot to chew on PD could -- yet.
Thanks so much -- -- now here will be interviewing Jeffery -- exclusively 11 AM Monday morning right here on the Fox Business Network will be listening.