Fed’s Fisher Says BOJ Stimulus Won’t Pressure U.S. Policy
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Federal Reserve Bank of Dallas President Richard Fisher said the Bank of Japan’s unprecedented stimulus doesn’t put pressure on U.S. monetary policy makers to continue with their bond-buying program.
The BOJ plans to purchase 7.5 trillion yen ($78.6 billion) of bonds a month and double the monetary base, which includes cash in circulation, in two years, the central bank said in Tokyo today. That exceeded economists’ median estimate of 5.2 trillion yen a month and is the biggest move since quantitative easing began in 2001.