Paulsen: Say 'No' To QE3

Wells Capital Management’s Jim Paulsen says the Federal Reserve shouldn’t undertake another round of quantitative easing, and instead should focus on restoring confidence. “I think the Fed, by continuing to respond every time the stock market dips as though they’re panicked that we’re going to fall into a depression, is helping to keep confidence low,” Paulsen tells Yahoo! Finance’s Breakout. “The Fed doing nothing would do more good for confidence than it would do harm to fundamentals.” He says QE3 would also likely set off commodity price spikes that would hurt consumers. He says he thinks we’d survive a QE3, but that we’d be better off without it.