[video] Quick Take: Fed's Already Tapering
NEW YORK (TheStreet) -- With the Federal Reserve's final meeting of 2013 at hand, TheStreet's Joe Deaux sits down with Brian Barnier, principal analyst at ValueBridge Advisors, to discuss the current situation.
Barnier reminded investors that the Fed has continued to remain data-driven, meaning that nothing in its monetary policy is concrete until the economy proves that it's actually getting better.
One problem he's been noticing is that corporations are boosting bottom line operations via cost cutting, while top line growth has failed to gain any real traction.
This not only creates an issue for the Fed, but also for consumers, who view this negatively. It makes them skittish. This only worsens the process, he added.
Regarding the Fed's personnel, the potential addition of Stanley Fisher, the former governor of the Bank of Israel, as the vice chairman of the Fed would be a great move, according to Barnier.When asked to elaborate, he told Deaux that Fisher brings a sense of historical macroeconomic experience to the table, which will help the Fed navigate the unknown economic waters it currently faces. He concluded that Fisher will be able to help decipher what will work and what won't work going forward with the current monetary policy. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
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