Tags: Fed | Fisher | US | 1970s | High | Inflation

Fed's Fisher: US Must Avoid 1970s-Style High Inflation

Tuesday, 22 Feb 2011 11:59 AM

The Federal Reserve needs to act to prevent a recurrence of the high inflation that occurred in the 1970s, Dallas Fed President Richard Fisher said in an interview with the Washington Post.

“I think you have to be careful that this doesn’t get out of control,” Fisher said about inflation, according to the newspaper. “I haven’t forgotten how quickly high inflation took grip and how things spun out of control. I remember the painful cure that had to be imposed.”

Fisher said the Fed’s latest planned easing, the purchase of $600 billion in Treasury securities through June, is “a fait accompli” and repeated his view that he wouldn’t support additional easing.

The Dallas Fed chief said last week he’ll be among the first policy makers to push for tighter policy as the economy improves and that one possible first step may be the sale of some of the central bank’s Treasury securities.

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The Federal Reserve needs to act to prevent a recurrence of the high inflation that occurred in the 1970s, Dallas Fed President Richard Fisher said in an interview with the Washington Post. I think you have to be careful that this doesn t get out of control, Fisher said...
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2011-59-22
Tuesday, 22 Feb 2011 11:59 AM
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