Tags: fed | fisher | Stimulus | Growth

Fed’s Fisher: More Stimulus Wouldn’t Spur Growth

Thursday, 16 Aug 2012 10:25 AM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink

Federal Reserve Bank of Dallas President Richard Fisher said the U.S. economy probably won’t lapse into recession in 2013 and that new stimulus wouldn’t spur growth.

“I don’t believe any amount of monetary stimulus is going to deal with this uncertainty and inability of companies to budget, to plan” due to the lack of clarity in fiscal policy, Fisher said Wednesday in an interview on CNBC.

He said he doesn’t see a “high likelihood” of a recession next year.

Editor's Note: You Owe It to Yourself to Know What Obama and Bernanke Are Hiding From Americans

The Dallas Fed chief in 2011 dissented twice against moves to push down long-term rates and to keep the benchmark U.S. interest rate near zero until at least mid-2013. He voted five times in 2008 in favor of tighter policy.

This year he isn’t a voting member of the Federal Open Market Committee, which is scheduled to meet Sept. 12-13.

Fisher, 63, said what is needed is regulatory clarity and fiscal policy certainty from Congress. Businesses are in a “defensive crouch,” he said.

The Fed on Aug. 1 said it will “closely monitor” economic data and financial developments and provide more stimulus if needed.

The central bank also said it will continue swapping $667 billion of short-term debt with longer-term securities to lengthen the average maturity of its holdings, an action dubbed Operation Twist.

Editor's Note: You Owe It to Yourself to Know What Obama and Bernanke Are Hiding From Americans

© Copyright 2014 Bloomberg News. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved