Federal Reserve Bank of Dallas president Richard Fisher said Friday that it won't be appropriate to consider tightening monetary policy until the Fed's accommodative monetary policies actually have a stimulative effect on the economy.

Fisher, a voting member of the Fed's policymaking Federal Open Market Committee, reiterated that he thinks the Fed has pumped plenty of "liquidity" into the system to try to spur growth and job creation and was dubious about the efficacy of easing even further.

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