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Ryan criticizes Federal Reserve at Tampa Bay rally

3:26 PM, Sep 15, 2012   |    comments
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OLDSMAR, Fla. (AP) - Republican Vice Presidential candidate Paul Ryan thinks the Federal Reserve is making a mistake in its new effort to prop up the economy.

Ryan spoke to a crowd gathered along Tampa Bay's shore Saturday. He said the Federal Reserve's plan to spend $40 billion a month to buy mortgage bonds in an effort to keep interest rates low won't work.

He said it will help banks and Wall Street, but it won't help people. He called the idea "sugar high economics." It was part of a speech that often criticized President Barack Obama's economic policies.

Ryan, a Wisconsin congressman and the House's top budget writer, said Obama inherited a bad situation and made it worse.

He stressed how important Florida, with its 29 electoral votes, is in electing GOP nominee Mitt Romney.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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