Dallas Fed’s Fisher calls for FOMC reform

Richard Fisher

Richard Fisher wants to reduce the power the New York Fed and Board of Governors hold in monetary policy decisions, he said last night, in one of his final speeches before stepping down next month.

The outgoing Dallas Fed president proposed several changes to the structure of the Federal Open Market Committee (FOMC) in his tub-thumping remarks before the Economic Club of New York.

Before unveiling his proposals, he addressed New York Fed president William Dudley, warning that "Bill, you might no

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