- Fed is closer than many think to reaching goals on jobs and inflation
- Would be willing to tolerate temporary inflation rise above 2% goal
- Fed is at risk of keeping policy loose for too long
- Increasingly concerned about risks of current fed policy
- Fed should let balance sheet shrinking in October
- Dangerous to think that Fed can always tighten policy if if overshoots on employment goal
- We are experiencing financial excess of our own making
- Fed risks damaging economy by appearing politically pliant
- His views are increasingly at odds with some Fed colleagues
Dallas Fed’s Richard Fisher exercising his hawkish wings quite strongly. It’s yet another Fed member who is making Carney like remarks about interest rates yet the market is watching the data first and the chatter second.
He is on the voting list this year though so he will have a part to play.
