Forum Post: Fisher: Further Fed steps to cut rates won't work and would let Congress shirk responsibility

Look at your supermarket bacon and cheese are expense now because of the fed.

Rather, he argues that further efforts to lower interest rates won't do any good, will hurt people who need interest income and could threaten pension funds. And he says the Fed's actions give Congress an excuse to delay politically painful agreements on taxes and spending.

In laymen terms wont print money when it not needed.

-Why he opposed Bernanke's last two moves to stimulate the economy:

"If it has no effect, why do it? If we're pushing on a string, then we can accommodate all we want. It won't do any good. And it may well end up undermining confidence. (The public may) think, `My God, the Fed's going to set the conditions for a resurgence of (inflation) long term.' You are running the risk of doing more harm than good, in part because you're giving (politicians) an exit, a way out from making those very tough decisions."

This is why price stability is important and populist demougary solves nothing.