The Federal Reserve mustn’t “fall behind the curve” as it weighs when to start raising interest rates, Dallas Fed President Richard Fisher said, citing strengthening U.S. growth and building wage-price pressures.

Fisher, a vocal advocate for tighter monetary policy to protect against inflation, also said Sunday that two soon-to-be- released economic reports from his Fed district would “knock your socks off.”

“I don’t want to fall behind the curve here,” Fisher said in a Fox News interview. “I think we could suddenly get a patch of high growth, see some wage-price inflation, and that is when you start to worry.”

Fisher dissented on Sept. 17 at the last meeting of the Federal Open Market Committee, when the Fed retained a pledge to keep rates near zero for a “considerable time” after its asset purchases halt at the end of next month.

He called U.S. second-quarter growth “uber strong”, referring to the upward revision last week to an annualized rate of 4.6 percent from 4.2 percent previously estimated, and said history had shown that wage pressures could accelerate when unemployment got below current levels of 6.1 percent.

In addition, Fisher said surveys of wage-price pressures in the Dallas Fed’s district, which includes Texas, northern Louisiana and southern New Mexico, were the highest since before the recession, and other indictors were also buoyant.

“We’re going to be releasing some data on Monday and Tuesday, our new surveys, that I think will just knock your socks off,” he said.

The Dallas district will publish its September manufacturing index Monday. Economists’ estimates compiled by Bloomberg expect it to rise to 10.5 compared with a prior reading of 7.1. The Dallas Fed will release its Texas Service Sector Outlook Survey on Tuesday.

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