Interesting perspective from the hawkish head of the Dallas Fed. He says it is the uncertainty surrounding the barrage of regulatory reform coming out of Washington that is hindering growth.
Looming tax hikes, health care reinvention and fin reg have all yet to fully take effect. Un til the rules are spelled out and put into effect, business will not know how to deal with them.
Fisher says further Fed easing could make the Fed look “politically pliable” .
The Fed will not not tolerate inflation or deflation and it will not monetize the debt, Fisher says.
