Dallas Fed Warns Against 'Ultra Easy' Money

Message to Bernanke
Ben S. Bernanke, center, walks to lunch with Martin Redrado, professor of international economics at the Catholic University of Buenos Aires and former president of Argentina's central bank Photograph by Daniel Acker/Bloomberg

Federal Reserve Chairman Ben Bernanke, slated to speak Aug. 31 at the annual monetary policy conference in Jackson Hole, Wyo., is under pressure from the hawkish flank of the Fed not to make monetary conditions even easier. A new report from the Federal Reserve Bank of Dallas—whose president, Richard Fisher, is reliably hawkish—warns that “there are limits to what central banks can do.”

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