In recent speeches Dallas Federal Reserve Bank President, Richard Fisher has been likening how the U.S. Federal Reserve Bank’s bond purchase programs (the Q.E.’s) seem to be “boxing” the Fed into a long duration portfolio of expensive wasting assets. Mr. Fisher calls the strategy, “The Fed’s Hotel California Monetary Policy”.After doing a little research, and a few key-words-searches, on Fisher's theme I found an interesting website which adds a little explanation - and some musical entertainment - ‘fleshing-out’ Mr. Fisher's notion. The web-site is called, Mish’s Global Economic Trend Analysis. I thought you might like to see Mish’s explanation of Fisher's “The Fed’s Hotel California Monetary Policy”.Every hyperlink (except the ads) on the linked article is worth visiting, in my opinion.Mish’s Global Economic Trend Analysis 12/14/2012: http://globaleconomicanalysis.blogspot.com/2012/12/dallas-fed-richard-fisher-fed-risks.htmlAlso see, Exit Strategy? What Exit Strategy? 12/12/12: http://globaleconomicanalysis.blogspot.com/2012/12/exit-strategy-what-exit-strategy.htmlhttps://vimeo.com/13617190
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