Romney: QE3 Just a ‘Sugar High’

Photograph by Richard Drew/AP Photo

Specialist David Pologruto works at his post on the floor of the New York Stock Exchange, as Federal Reserve Chairman Ben Bernanke holds a news conference in Washington.

Mitt Romney called quantitative easing a “sugar high” today in his first public comments about the Federal Reserve’s plan to stimulate the economy.

Speaking to donors in New York City this morning, Romney said his economic policies avoid the need for another round of bond-buying by the central bank.

“We’re not going to have to look for the sugar high that comes with QE3 or QE4 or QE5 or QE6,” he said. “The real course ahead for America is to encourage the growth of our economy, not just to go out there and print more money.”

The Fed announced yesterday it would buy $40 billion per month in mortgage bonds until the economy improved — the third round of a program known as quantitative easing.

Romney has said he opposes the program because it’s unlikely to improve the economy. He’s also promised to replace Fed Chairman Ben Bernanke when his term expires in January 2014.

“Sugar high” is an unoriginal criticism from the Romney team. Pollster Neil Newhouse used the term earlier this week to discredit President Barack Obama’s post-convention bounce in the polls.

“While some voters will feel a bit of a sugar high from the conventions, the basic structure of the race has not changed significantly,” Newhouse wrote in a memo.

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