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Fisher Says Real Problem With Economy is Congress

August 7, 2012 @ 9:22 AM EST

by The "State" Team

Dallas Fed President Richard Fisher

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Fed Update: Fisher Says Economic Problems Due to Congress

Dallas Fed President Richard Fisher said in an interview with Reuters Tuesday that additional policy response measures from the Fed so close to a presidential election would be a mistake.

Fisher, who is not a voting member of the FOMC this year and a noted inflation hawk, added that the real problem with both the economy and the high unemployment rate has not been monetary policy, but Congress's lack of action with regards to fiscal policy.

Note that Fisher has been an outspoken critic of any additional policy responses.

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