Excerpts from Richard Fisher's remarks before the Gainesville Area Chamber of Commerce
Excerpts from Richard Fisher's remarks before the Gainesville Area Chamber of Commerce, Gainesville, Texas, December 18, 2012>
Where We Stand: Assessment of Economic Conditions and Implications for Monetary Policy
An essay by Federal Reserve Bank of Dallas President Robert S. Kaplan from August 21, 2018.
Churchill, Baruch, Lindsay Lohan, Congress and the Fed
Remarks at the Institute of International Bankers Annual Washington Conference, Washington, D.C., March 7, 2011 ; "I argued against the $600 billion extension [buying U.S. Treasuries] the voters on the FOMC approved last November. And I remain doubtful enough as to its efficacy that if at any time between now and June, it should prove demonstrably counterproductive, I will vote to curtail or perhaps discontinue it."
Is German economic decline exaggerated or inevitable?
Remarks before the the American Academy, Berlin, Germany, November 20, 2006 ; "Persistence in pursuing economic reform will solve the problems that threaten Germany's future. Germany must 'press on' with needed reforms to its laws and to its attitudes toward competition and the pursuit of excellence."
Inflation measurement and price volatility
Remarks before the Charlotte Economics Club, Charlotte, N.C., October 4, 2007. ; "Those of us responsible for crafting U.S. monetary policy cannot afford to be distracted by the flux of short-term price changes that are destined to be unwound. Our eye should be focused on underlying inflationary pressures, some of which may indeed be coming from food and energy markets. Routinely excluding food and oil price movements from our inflation gauges may have made sense in the 1970s, the 1980s and even the 1990s--but not now, nor in the next few years."
Two areas of present concern: the economic outlook and the pathology of Too-Big-to-Fail (with reference to Errol Flynn, Johnny Mercer, Gary Stern, and Voltaire)
Remarks before the Senior Delegates' Roundtable of the Fixed Income Forum, Carlsbad, California, July 23, 2009. ; "A lot of former negatives are being eliminated. We are seeing changes from negative impulses to slightly positive ones. This accentuates the positive in the aggregate. We probably have the beginnings of a faint recovery."
The current state of the economy and a look to the future (with reference to William 'Sidestroke' Miles, W. Somerset Maugham, Don Ameche and Kenneth Arrow)
Remarks before the Austin Headliners Club, Austin, Texas, November 10, 2009 ; "The Federal Reserve has done what it can to prevent Depression 2.0 and the deflation that one would have expected might accompany economic collapse. It will take some time, in my opinion, to get back on a steady pathway to a pace of growth that will result in significant job creation. We are in for a long slog. We had a snapback in growth in the third quarter and can expect that will continue in the current quarter. But looking into 2010 and perhaps to 2011, the most likely outcome is for growth to be suboptimal, ...
Containing (or restraining) systemic risk: the need to not fail on 'Too Big to Fail' (with reference to Margaret Thatcher, Geoffrey Howe, Irving Kristol, Joe Nocera, Bastiat, Nietzsche, Mencken and Sandy Weill)
Remarks before the Market News International Seminar, New York, N.Y., June 6, 2011 ; "Postcrisis, the large institutions are even larger: The top 10 now account for 64 percent of assets, up from 58 percent before the crisis and substantially higher than the 25 percent they accounted for in 1990. In effect, more prudent and better-managed banks have been denied the market share that would have been theirs if mismanaged big banks had been allowed to go out of business.
Contemplating the nature of money and the capillaries of capitalism
Remarks Before Downtown Waco Inc., Waco, Texas, October 6, 2005
Texas redux, America restrained (with a discussion of the limits of monetary policy)
Remarks before the Texas Manufacturers Summit 2012, San Marcos, TX, February 15, 2012 ; "In a nutshell, Texas continues on a path it has been on for over two decades, outperforming the nation in economic growth and job expansion. We have fully recovered the jobs lost during the Great Recession and have punched through previous peak employment levels."