Steve Forbes: The Fed should stop buying Treasuries and do its job

In an appearance on CNBC this morning, Forbes CEO Steve Forbes said that the Federal Reserve should stop buying government debt and focus on kick-starting areas of the credit markets focused on consumers.

Forbes told "Squawk Box Europe" that he thinks the Fed "should announce first they're not going to buy any more Treasury securities. Cash in the banking system is not the problem, the problem is that parts of the credit economy are still not working." Forbes believes that the Fed needs to "aggressively" buy mortgage-backed securities in order to get housing sales moving again.