Republicans don't want loose monetary policy: Cantor

Reuters News
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Posted: Sep 21, 2011 10:38 AM
Republicans don't want loose monetary policy: Cantor

WASHINGTON (Reuters) - Many Republicans fear a loose monetary policy will hurt the U.S. economy, a Republican leader said on Wednesday after signing a letter telling the Federal Reserve to refrain from further intervention.

"Many of us feel that some of the very loose monetary policy has had a negative effect as far as global confidence in our currency and ultimately in our economy," Representative Eric Cantor, the No. 2 Republican in the House of Representatives, said at a news conference.

(Reporting by Richard Cowan and Andy Sullivan; editing by Bill Trott)