Monday, February 2, 2009

He's Baaack!

Fisher's back in the headlines! Not as the lone dissenter - Lacker's taking that trophy for the time being - but in the Fed's campaign against a Congressional crack addiction. From Economy Watch:
If it ever crossed your mind: "I wonder what Dallas Federal Reserve President Richard Fisher thinks about protectionism," then wonder no longer.

"Protectionism is the crack cocaine of economics," Fisher said on C-Span this morning.

"It provides an immediate high that leads to economic death. We cannot afford to go down that route," said Fisher, one of 12 Fed district bank presidents, all of whom are under Fed Reserve Chairman Ben Bernanke.
Rebecca Wilder


  1. Watch for protectionist sentiment to pick up traction in many, many countries however (including the US.)

    I really can't see a retaliatory protectionist scenario not playing out at this point- it's not like we were really in a true and level free trade situation. Criticism of different countries is going to lead to barriers which will lead to more barriers.

  2. Excuse the french but Richard Fisher is an idiot. He has been on the opposite side of fundamentals for the last five years. First stating they were done raising rates, then stating he was worried about inflation as the global economy imploded. I have followed this guy closely and it is no exaggeration to say he is a complete idiot.