While praising the Federal Reserve for pulling America from the brink “when the panic of 2008 occurred,” Federal Reserve Bank of Dallas president and chief executive Richard W. Fisher Friday warned that there are costs to the Fed “overstaying its welcome” and suggested it consider cutting back its latest accommodation.

“In my view, no amount of further accommodation by the Fed would be wise — either by prolonging or 'tapering off’ the volume of purchases of Treasuries past June, or adding another tranche of large-scale asset purchases,” Fisher told the Society of American Business Editors and Writers, according to prepared text released by the Fed. “Indeed, it may well be that we should consider curtailing what remains of QE2,”

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