The WSJ reports (my bolds):
Dallas Fed President Richard Fisher, in a speech in Austin, Texas, said “on the foreign front, we are innocent bystanders.” His observations came in a speech that represented a broadside against leaders across the globe.
“Just as we had come to see the light of an evolving domestic recovery, one senses Europe, and possibly the emerging economies, sneaking up behind us, Wodehousean pipe in hand, poised to knock us off course,” Fisher said, in reference to humor writer P.G. Wodehouse. He said the European Union gathering last week failed to resolve that region’s government debt crisis, leaving efforts at stemming the crisis incomplete.
Fisher also pointed his fire across the Pacific. “The Chinese have not provided convincing proof that they will be able to contain the pricking of their real estate bubble or the shadow banking industry that enabled it,” he said. The official also said he was “sickened” by U.S. leaders’ inability to put the American government’s fiscal house in order.
No Mr. Fischer, the US is never an “innocent bystander”, especially when it concerns monetary policy! And you have to change your glass prescription. We haven´t seen any “light of recovery”, being still “deep inside the hole you helped dig”!