Fed's Fisher still warning on inflation

Richard Fisher, the president of the Dallas Federal Reserve who is considered the Federal Open Market Committee's (FOMC) most hawkish member, has signalled that he would still not back a rate cut.

"Our credit markets have contracted a hideous STD - a securitisation transmitted disease - for which lowering the funds rate to negative real levels seemed to me to be not only an ineffective treatment, but a palliative and maybe even a stimulus that would support further mischief," Fisher said Thur