Fed's Fisher on banking and the US economy

In the speech 'An overview of banking, and the US and Texas economies' given on 12 September Richard Fisher of the Federal Reserve Bank of Dallas said Hurricane Katrina will not do lasting harm to U.S. growth and the impact on monetary policy is unclear.

"How does Katrina alter the outlook? The truth is, we don't really know," he said in the speech to the Texas Banking Department in Austin, Texas.

"My inclination is to read, listen and watch and not rush to judgment about how the disaster will

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