Fed's Fisher: I Hope New Congress Won't Interfere With Central Bank Independence

Dallas Federal Reserve president Richard Fisher said on Wednesday he hopes the new Republican-controlled Congress will limit any new laws that might endanger the Fed's independence.

"There are many different arguments being put forward," Fisher said on Bloomberg television, referring to proposals to audit the Fed and force the central bank to follow strict rules for setting interest rates.

The Republican win on Tuesday could add momentum to those ideas.

"I hope they will be responsible in terms of limiting the amount they wish to interfere with our independence," Fisher said.

"I think it is very dangerous to tamper with the institution. Yes, we could be updated and tweaked but on balance we have lasted 100 years and on balance we have done a very good job."