"We should hold off for a while and get back to basics. Our debt is growing very rapidly, people don’t know what is going to happen to taxes (a tax break) scheduled to end on January 01.
"Then there is monetary policy. People don't know what the Fed is up to. I think the best thing now is to really stay off for a while."
Firing Uncertainty
Taylor said uncertainty increased among economic agents when there were further expectations of government interventions.
"It looked for a while like some of those things (stimulus measures) were working and a recovery started pretty well last year," Taylor said.
"By the end of last year we had growth in the United States close to 6.0 percent.
"But since then things have kind of fizzled out aga