I continue to like Richard Fisher and learn from him. Who is Richard Fisher? The current President of the Dallas Federal Reserve Bank. His concluding remarks at the Dallas and Fort Worth chapters of Financial Executives International on February 11, 2014 is spot on, in my estimation. Essentially, he shows that the Feds have produced more than enough money for us, as a country, to produce many new jobs and grow news businesses. He points the finger at the banks, who are now holding over $2.5T in cash, up from the pre-2008 recession levels of $43 billion. In other words, today the banks have nearly 6 times the amount of cash they had before the 2008 recession.
He also places blame on our elected officials who don’t craft job-creating and pro-business policies. And then he points the finger at us for electing the people we do.
I invite you to read this short, but informative article.
Bill English, CEO