Bank of Israel Governor Stanley Fischer said he’s worried about the use of unconventional monetary policies around the world, which make measures to slow capital inflows a necessity in some countries.
“One has the impression from the press that we all love doing these complicated things and that quantitative easing fills us with a sense of power,” Fischer said at a seminar in Washington.
“Actually, it fills me with a sense of worry. And it’s not like doing ordinary monetary policy. It’s messy, it’s ugly, you’re always struggling to come up with something,” he said.
“And if we didn’t have to be in this world we’d feel much better. But we do have to be in this world, so we’re trying to deal with it.”
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