Fed's Fisher Says `Inflation Virus' Must Be Stopped
*It's amazing how the market moves off of these manipulators, remember this same guy was saying the Fed was in the 8th inning of Federal Reserve rate hikes, and I clearly put into light that this was b.s. earlier... all one had to do was follow the signs of the market, real inflation, and even the way the dollar was trading to see that they will NOT stop hiking!... at least not yet, and even if they did, that would collapse the U.S. dollar, that in itself could potentially create a severe inflation crisis!... BOTTOM LINE: this economy is headed in the wrong direction due to a treasonous Federal Reserve that is on the midst of literally collapsing under its own weight...
Fed's Fisher Says `Inflation Virus' Must Be Stopped
Oct. 6 (Bloomberg) -- Federal Reserve Bank of Dallas President Richard Fisher said policy makers must prevent an ``inflation virus'' from disrupting the U.S. economy and financial system.
Fisher, in the text of a speech in Waco, Texas, today also repeated earlier comments that inflation shows ``little inclination'' to slow and is moving closer to the ``upper end of the Fed's tolerance zone.''
Fisher and other Fed policy makers suggested earlier this week that the central bank may have to raise interest rates further to tame inflation stoked by a post-hurricane surge in energy prices.
``Money flows are an economy's lifeblood, and the Federal Reserve's great responsibility lies in maintaining the cardiovascular system of American capitalism,'' said Fisher, a voting member of the rate-setting Federal Open Market Committee.
The Fed can't allow an ``inflation virus'' to ``infect the blood supply and poison the system. Inflation robs us of all that we might otherwise produce with a sound currency.''
To contact the reporter on this story:
Scott Lanman in Washington at slanman@bloomberg.net.
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