Dow Jones Newswires (03/26/13) Asa Fitch
Richard Fisher, the president and chief executive of the Federal Reserve Bank of Dallas, says U.S. leaders are failing to create the right monetary conditions to stimulate employment. Trillions of dollars are waiting to be activated and invested in the U.S. economy but are instead being parked at near zero interest rates, Fisher says. Despite that, he expects the U.S. economy to grow at a 3% clip by the end of 2013. “We have a very healthy scenario on the price side,” Fisher says. “Where we are underperforming is the other mandate that was given to us by the U.S. Congress, and that is to create the monetary conditions to achieve full employment.” Fisher has positioned himself as a staunch opponent of the U.S. Federal Reserve stimulus at a time when unemployment rates in the U.S. have been steadily declining.