Republican Vice Presidential nominee Paul Ryan thinks the Federal Reserve is making a mistake in its new effort to boost the economy.

During a rally in Florida Saturday, Ryan said a plan to spend $40 billion a month on mortgage bonds to help keep interest rates low won't work.

He said it will help banks and Wall Street but not average Americans.

"The Federal Reserve is basically saying that we don't have a recovery, Obamanomics didn't work so now they're coming with their bailout," he said. "Here is the problem. We don't need sugar-high economics. We don't need synthetic money creation. We need economic growth!"

Ryan stressed how important Florida, with its 29 electoral votes, is in electing his running mate, Mitt Romney.