Fed's Fisher "gets it".

I

Ivanovich

Replace Bernanke with Fisher.

Dallas Fed's Fisher says fighting inflation trumps economic growth
Tuesday, March 04, 2008 1:01:00 PM

LONDON (Thomson Financial) - Federal Reserve Bank of Dallas President Richard Fisher today warned that when faced with a choice between keeping the economy afloat with more rate cuts and fighting significant increases in inflation expectations, the Fed must choose to fight inflation, even if this choice means a faltering economy in the short term.

'Containing inflation is the purpose of the ship I crew for, and if a temporary economic slowdown is what we must endure while we achieve that purpose, then it is, in my opinion, a burden we must bear, however politically inconvenient,' Fisher said in a speech at the Society of Business Economists in London.

Fisher also cited the importance of maintaining well-anchored inflation expectations, and said this mission is paramount for the Fed.
More...
 
Quote from Ivanovich:

Replace Bernanke with Fisher.
More...


Seems like he gets it.

Too bad that's not what people are really looking for. They just want someone to keep cutting rates and sending handouts and stimulus packages.

They want a yes man, like an enabler for a junkie.
 
Oh, I know it'll never happen (Bernanke getting replaced). Was just foolish hope.

And Reaver is exactly right - as long as someone is in place to hand out to all those who were fiscally irresponsible, then all is well in the perverted universe this country operates in.

I can dream, though, can't I?
 
If the Dems get elected to office, then it's buh bye Ben - they haven't had a Dem in that role for a LONG LONG time (if ever?).
 
Quote from Div_Arb:

If the Dems get elected to office, then it's buh bye Ben - they haven't had a Dem in that role for a LONG LONG time (if ever?).
More...


Go Fisher!


Bernanke just shut up! everytime you speak dollar, stocks, GDP all goes down and gold shoots through the roof. Just shut up!
 
Quote from amylase:

Go Fisher!


Bernanke just shut up! everytime you speak dollar, stocks, GDP all goes down and gold shoots through the roof. Just shut up!
More...

So, backtest it then and act accordingly.
 
Yeah. I agree Fisher is the only guy there with a backbone. He's the only guy that voted for no change at the last FOMC meeting after the surprise cut due to SG rogue trader.

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Donald L. Kohn; Randall S. Kroszner; Frederic S. Mishkin; Sandra Pianalto; Charles I. Plosser; Gary H. Stern; and Kevin M. Warsh. Voting against was Richard W. Fisher, who preferred no change in the target for the federal funds rate at this meeting.



He should be Chairman. It's too bad we get no say in it.
 
You must log in or register to reply here.
Back
Top