Richard Fisher, president of the Federal Reserve Bank of Dallas, speaking at a conference:

  • Says FOMC is working together on the same goal
  • Congress has burdened Americans with ‘terrible’ debt load
  • Says US government is ‘too intrusive’
  • Says Congress ‘incapable of cooperation with Obama
  • Say’s Bernanke has made the question of “Is it working?” central to Fed policy
  • Says Congress has ‘the memory of a fish’
  • Says QE may have adverse long-term impact on Fed independence
  • Worries a great deal about political consequences from losses on Fed’s long-term assets when rates do rise
  • Fed’s greatest duty is ensuring price stability
  • Labor market is improving, data is still positive

Fisher is recognised as a ‘hawk’ on monetary policy.