Dallas Fed's Fisher on globalization & govt policy

In the speech 'Globalization and government policy' given on 2 December Richard Fisher of the Federal Reserve Bank of Dallas said the Fed must not accommodate growing federal budget deficits by compromising monetary policy, and it must continue to fight any inflationary pressures.

"It is the duty of the Fed to refrain from the slightest temptation to monetize deficits or embrace any other inflationary policy," Fisher told a conference.

"In the (former Fed Chairman Paul) Volcker and Greenspan eras

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