Claiming that the economy is doing better than the improving numbers suggest, Federal Reserve Bank of Dallas president Richard Fisher said talk of additional accommodation is “wishful thinking.”
“The tone is a lot better. It’s not brilliant, we don’t have enough new hiring taking place,” he said in an interview on the cable network CNBC.
The numbers are “definitely moving in the right direction, and my personal feeling … is that things are better than the numbers might suggest, or at least moving in the right direction,” he said. “There is a better tone out there, and I think we need to take note of that.”
In the televised interview, Fisher indicated there will be no more easing, no matter how much Wall Street may desire it.
“Our job is not to prop up the Street,” Fisher said. “ 'Fantasy’ may be too strong — wishful thinking, wantful thinking, if that’s a word. But I would focus on the real economy. We focus on the real economy, and that’s our duty.”