Tags: Fisher | Fed | rate | Economy

Fed's Fisher: Low Rate Promise No Help to Economy

Friday, 16 Sep 2011 12:01 PM

The Federal Reserve's promise to keep U.S. interest rates near zero for the next two years is a counterproductive measure that discourages firms from investing, Richard Fisher, one of the bank's top officials, was quoted as saying on Friday.

Fisher was one of three Fed officials to vote against last month's decision by the bank to extend its already super-easy monetary policy by promising to keep rates near zero through to mid-2013.

"I do not think it is an initiative which stimulates the economy," Fisher said in an interview with Germany's Frankfurter Allgemeine Zeitung, adding that it could delay firms' investment and job hiring plans.

He also repeated his view that the Fed had taken enough steps to try and boost the economy and that the bar for further support measures should be set high.

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The Federal Reserve's promise to keep U.S. interest rates near zero for the next two years is a counterproductive measure that discourages firms from investing, Richard Fisher, one of the bank's top officials, was quoted as saying on Friday. Fisher was one of three Fed...
Fisher,Fed,rate,Economy
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2011-01-16
Friday, 16 Sep 2011 12:01 PM
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