Fed dissenter warns against "inflation remedy"

Richard Fisher, the president of the Dallas Federal Reserve and a voting member of the Federal Open Market Committee (FOMC), has said that he remains strongly reluctant to cut rates.

Fisher, who backed less-aggressive easing than the 75-basis point cut made last month, said on Thursday that the way out of the current turmoil was "not to compound the bad by repeating the oft-prescribed remedy of inflating our way out of our predicament with a wing-and-a-prayer promise that can always be reined in

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