Without its independence from political interference, I doubt the Fed could have so successfully set the interest rates that have led to today's favorable economic circumstances.
More Quotes from Richard Fisher:
Those urging the United States to rein in its spending should be equally full-throated in prodding countries with excess savings and trade surpluses to create conditions for growing their domestic demand. If they fail to do so, and the U.S. suddenly becomes virtuous on its own, the global economy would sink into a deep funk.Richard Fisher
If productivity growth can stay near 3, monetary policy can accommodate relatively faster growth without igniting inflation.
Richard Fisher
So this leaves a third option better calibrating government spending programs,
Richard Fisher
I think that the advantage of having an 'all clear' is that you have a factor which you can use in the scheduling of EVAs. This allows you to avoid times that are less fortunate. I believe this will be important as we return to the Moon.
Richard Fisher
Is the United States still the growth engine fore the world The answer is yes.
Richard Fisher
Business is risky enough without the additional uncertainty created when a nation's unit of account -- in plain language, its money -- is undermined,
Richard Fisher
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