Richard Fisher

Richard Fisher: Fed Committee Is 'Coming In My Direction'

Dallas Federal Reserve President Richard Fisher spoke with FOX Business Network’s (FBN) David Asman about the reason he didn’t dissent from the last Federal Reserve meeting saying, “things have been coming my way.” Fisher went on to say, “I think the committee, as I listen to them and I can only speak for myself around that table during two days of discussion, is coming in my direction, So I didn’t feel the need to dissent.” Richard Fisher also spoke about the Federal Reserve being on track for an earlier rise in rates saying, “we’re going to have to move the date of liftoff further forward than had been projected the last time we issued the dots.”

Richard Fisher: Fed Committee Is 'Coming In My Direction'

Dallas Fed Richard Fisher on the reason he didn’t dissent from the last Federal Reserve meeting:

“I still have a hawkish slant. However, I do feel — and I’ve felt during the discussion of the committee and the way we worded the statement that is negotiated at the table under the leadership of Janet Yellen, that things have been coming my way. And what I mean by that is acknowledgement that the economy is strengthening, and that I think if you read through the text of what we said, the kind of arguments I’ve made and it was published in “The Wall Street Journal” just the Monday before the meeting, we’re moving in the direction of slowing down the accommodation first by tapering off to zero our asset tails this fall – asset sales. And then I think the committee, as I listen to them and I can only speak for myself around that table during two days of discussion, is coming in my direction. So I didn’t feel the need to dissent. I feel comfortable with where the committee is going. I do think if the continuance is of continued economic improvement – we saw, by the way, in the Institute for Supply Management numbers today on the service sector, they’re the highest in five and a — plus years. And they’re awfully strong in 17 out of 18 sectors. Then we’re going to have to move the date of liftoff further forward than had been projected the last time we issued the dots.”

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