Evan Vucci, Associated Press
OLDSMAR, Fla. — 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 rally 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 not people. He called the idea "sugar-high economics." Ryan's comments came during a speech that often criticized President Barack Obama's economic policies.
The Wisconsin congressman and top budget writer in the House 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.
- GOP: Lois Lerner's IRS emails show bias...
- Probe exposes flaws behind HealthCare.gov...
- Photos: UCLA wades through damage caused by...
- Obama to GOP: 'Stop just hating all the time'
- GOP-led House ready to OK lawsuit against Obama
- GOP-led House approves lawsuit against Obama
- Witness: More Oklahoma bombing videos may exist
- Witnesses at Utah trial: No security-camera...
- US Court: Virginia marriage is for all... 49
- Obama to GOP: 'Stop just hating all the... 45
- GOP-led House ready to OK lawsuit... 32
- Most Americans believe the U.S. should... 27
- GOP: Lois Lerner's IRS emails show bias... 26
- Obama maintains busy fundraising... 21
- Fast food workers vow civil disobedience 20
- GOP-led House approves lawsuit against... 14