Tags: Dallas | Fed | Fisher | Doubts | Further Easing

Dallas Fed’s Fisher Repeats Doubts Further Easing Will Work

Thursday, 07 Oct 2010 01:43 PM

Federal Reserve Bank of Dallas President Richard Fisher repeated doubts that further monetary easing will spur employment and said policy makers haven’t settled a debate over whether to take new steps.

“There is a great deal of legitimate debate still to take place within the FOMC on the subject of quantitative easing, and the pros and cons and costs and benefits of further monetary accommodation,” Fisher said in the text of a speech today in Minneapolis, referring to the policy-setting Federal Open Market Committee.

Fisher’s remarks, similar to those he made in Vancouver last week, sought to dispel speculation that Fed policy makers have made up their minds to pursue a second round of unconventional accommodation. The FOMC said Sept. 21 that it’s prepared to take action “if needed” to spur growth and achieve its mandate of stable prices and full employment.

“I instinctively understand the impulse to put the monetary pedal to the metal to try to move the needle on employment growth,” he said. “And yet the efficacy of further accommodation at this point has yet to be established.”

Fisher said that “whatever we might do, if anything, must be consistent with long-term price stability and not add to the nightmare of confusing signals already being sent to job creators.”


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Federal Reserve Bank of Dallas President Richard Fisher repeated doubts that further monetary easing will spur employment and said policy makers haven t settled a debate over whether to take new steps. There is a great deal of legitimate debate still to take place within...
Dallas,Fed,Fisher,Doubts,Further Easing
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2010-43-07
Thursday, 07 Oct 2010 01:43 PM
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