In an interview with Bloomberg Radio’s Kathleen Hays and Vonnie Quinn, Federal Reserve Bank of Dallas President Richard Fisher said he would like to see interest-rate increases start at the end of the first quarter and continue in quarter-point increments.
Fisher on the U.S. economy
Fisher also said:
- “I am happy with price stability.”
- “The problem in the housing market is not interest rates…What’s holding back the housing market is not monetary policy.”
- Labor market improvement seen in quits ratio.
- In favor of tapering reinvestments, but lost that argument at the table of the FOMC meetings, “The majority wants to just hold onto that portfolio and reinvest… we’ll have a large portfolio for quite some time to come.”
- There are “advantages of having a strong dollar…I think it is a vote of confidence” in the U.S. Economy. Strong dollar helps Fed on inflations “as imported products are cheaper” When the fed raises interest rates, it should do so “in a gradual steps over a longer period” to avoid “enormous market shocks.”
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