Friday, February 8, 2008

Yellen corrects Fisher

It's about time! Fisher, the Fed head, who voted against cutting rates, said this beauty yesterday, of which is below, and in my previous post:

"The Fed has to be very careful now to add just the right amount of stimulus to the punch bowl without mixing in the potential to juice up inflation once the effect of the new punch kicks in."

Today, Janet Yellen of the Fed had this to say about his comments:

"I don't think it's quite fair to say spiking the punchbowl, when on balance, credit conditions still at this point are not obviously across the board looser."

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