It is hard to understand how Federal Reserve Bank of Dallas President Richard Fisher can say the U.S. economy is overstimulated when first-quarter gross domestic product growth might have been as feeble as 1.5%, according to The Economist. "This is why it's a problem to be obsessively cutting short-term government spending," the magazine noted. "And this is why it's a problem when regional Fed presidents start recommending that the Fed end QE2 early."

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