Fed hawk Fisher softens stance

Richard Fisher, the president of the Dallas Federal Reserve and the lone dissenter on the last two Federal Open Market Committee (FOMC) votes, has acknowledged that slowing growth and a slump in commodity prices may stem inflation.

Fisher, who has taken a more hawkish stance than the majority of the FOMC since becoming a voting member on 30 January, has consistently warned about the inflation threat.

But on Tuesday he said that it was "certainly a plausible scenario" that the recent fall in c

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