CHART OF THE DAY: Here's The REAL Reason The Dallas Fed Chief Is Against More QE

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In a speech he just gave, Dallas Fed Chief Richard Fisher vowed to vote against more QE.

He cites Carter-era inflation as the reason.

But in his own speech, he shows the REAL reason he opposes more QE.

He uses this chart showing how the Dallas region has the best long-term employment situation in the country, a phenomenon he chalks up to sound pro-business policy.

Maybe that’s true. But it also explains why Fisher himself sees no need for the Fed to pump more money, or add as an “accomplice” (his word) to Congress.

chart of the day, nonagricultural employment, feb 2011

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