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John Sununu: It’s Not QE3, It’s QE Infinite

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    Former Gov. John Sununu, (R-NH), on the Federal Reserve’s efforts to boost the economy.

  • Duration 4:09
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This transcript is automatically generated

-- -- New Hampshire governor John Sununu says -- Ben Bernanke's announcement was about stimulating the economy.

It was also about stimulating the president's poll numbers but the governor doesn't thing.

This will have the desired effect -- governor.

This is of barely blatant move with little more than fifty days to go until the election it really could have waited what -- -- It happened the way that.

Now I'm not sure it was -- or just -- yet psychological.

Pressure on the back from its head that told him to do it now but death.

Let you do it -- -- -- -- this -- such that you would do that now.

No it if he was gonna do it -- -- or five months ago obviously it was an appropriate and that's probably.

It's a problem outlook.

What what -- get done they've backed -- three key ingredient but it.

There's a time frame on this there's no limit pay about that they're gonna do it just has begun to do forty billion embarked on mortgage backed securities -- that -- -- -- paragraph.

Defense and we might move to purchasing other aspects.

This is dependent.

This is not a plot -- I believe in the long -- the dollar -- and it's a terrible trade of buying a few more months both Sony tranquility.

You have a -- -- that's all Barack Obama needs and I know you're not as stated on this -- earlier but but but then that could -- its immediate purpose.

Which I still suspect is greatly political.

I try to be a -- -- yeah.

-- -- very serious problem I'll get any economy Spain an -- -- you get it done this he's a lot earlier are a lot later.

-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- I wonder whether it's his pronounces we take in other words it is going to be decreased best economic news this president has until Election Day.

In the markets -- soaring or or they continue to that's debatable because these -- to run ups tend to be short -- Is that enough it's it's it's that people think hey we must be doing better.

Doubt that the American public gets smarter than.

They're just looking at -- -- slightly troubled stock market take a look at the eight point whatever it is percent unemployment.

That we have in the 23 million people that are working.

And the fact Atlanta spot we lost industrial production one point 2% the fact that the economy moving in the wrong direction.

That the manufacturing index keeps open -- the -- -- It is not a happy it's based been embarrassed if there's probably.

An -- at -- appropriate.

It is I don't think.

But -- tell America that -- -- -- -- wealthy Americans felt there are problems and now that the kids have brought back a little bit and expectations into.

Do you think though that Mitt Romney going out a living is usually very guarded and it didn't try to avoid any.

Gonna rebel rousing -- comments during.

The debates but to go around when the way he did very early on be critical of -- Bernanke critical of all of -- -- musings and these.

Did you know that of the great printing of -- run as you would call -- You think that came back to bite him.

But I think he was trying to do the responsible -- -- -- this at this -- steps of actions which really devalued the dollar.

Really hurt and and I think it was trying to but a marked on the table a big disparity there thank you for doing -- But obviously it didn't work I think it was willing to take a little bit -- -- was willing to take a little bit of a political.

The risk.

By putting the right -- on the table and hoping that that we don't -- they'd cut people off or in the long run but there's definitely scary.

And we expect it.

-- so do you think this is payback.

Pay -- is that tough words right -- I think it is it.

It is well if you don't like -- about that I do but I wanted to do anyway I think that it probably the way I would character.

That is very diplomatic response governor.

Always good having units -- thank you.

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