Romney camp: Fed action shows Obama has failed

Presidential candidate Mitt Romney's campaign came out against the Federal Reserve's announcement of a third round of quantitative easing today, with policy adviser Lanhee Chen calling it "further confirmation that President Obama’s policies have not worked."

Calling the Fed's attempts to stimulate the economy through bond-buying "artificial and ineffective measures," Chen added, "we should be creating wealth, not printing dollars."

For months on the campaign trail, Romney has voiced skepticism of quantitative easing policies. Last week in Iowa, for instance, he told reporters that he did not think a third round of quantitative easing would have a positive economic impact. He called the second round of quantitative easing “less effective than we had hoped” at helping create jobs. 

“Frankly, I think what we’re looking for is a kind of commitment in Washington to fixing the structural problems that are making it hard for our economy to recover, and some of those problems have been put in place by the president,” Romney said at a news conference in Iowa.

Chen's full statement is after the jump.

“The Federal Reserve’s announcement of a third round of quantitative easing is further confirmation that President Obama’s policies have not worked. After four years of stagnant growth, falling incomes, rising costs, and persistently high unemployment, the American economy doesn't need more artificial and ineffective measures. We should be creating wealth, not printing dollars. As president, Mitt Romney will enact bold, pro-growth policies that lead to robust job creation, higher take-home pay, and a true economic recovery.

Philip Rucker is a national political correspondent for The Washington Post, where he has reported since 2005.

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