Wednesday, December 19, 2007

Fed board member "concerned about inflation"

Richard Fisher - Fed board member from Dallas is a little worried about US inflation. It is a pity that more board members didn't share his concerns:

DALLAS–The U.S. Federal Reserve must not "overreact" to the credit crisis and take risks with inflation, one of its top policy-makers said yesterday, in a clear hint at reluctance to cut interest rates further.

"The actions we've taken should provide some buoyancy through the course of next year to the economy. But I want to make sure that we don't overreact and create further problems down the road," said Richard Fisher, president of the Federal Reserve Bank of Dallas.