Rep. Kevin Brady (R-TX), Vice Chairman of the Joint Economic Committee and senior member of the House Ways and Means Committee, made the following comments on today’s Federal Open Market Committee policy statement.

“The FOMC pronouncement that the economy remains weak and that ‘growth in employment has slowed in recent months’ is just one more confirmation of the failure of President Obama’s economic policies.  Those policies and other Administration proposals continue to place a drag on the economy and hold back the recovery. It’s time to change direction and place our faith in the American people and the free enterprise system to create jobs and opportunity for all Americans.”

“The FOMC’s decision to extend ‘Operation Twist’ is disappointing in light of Chairman Bernanke’s recent testimony to the Joint Economic Committee in which he told the committee that ‘monetary policy is not a panacea’ and that there are limits to what the Federal Reserve can do.”

“I wish the FOMC had looked the President and Congress in the eye and said, ‘do your job, remove the uncertainty surrounding tax policy and put your fiscal house in order.’  More monetary morphine is not the answer to what ails our economy.”