Dallas Fed's Fisher on the economy at midyear

In the speech 'The economy at midyear' given on 14 June Richard Fisher of the Federal Reserve Bank of Dallas emphasised that the Federal Reserve was serious in keeping inflation at bay.

"We can ill afford to somehow encourage expectations that inflation might gain momentum. For in today's monetary realm, with markets so fluid and swift, expectations can quickly become reality," he said.

"To me, this is more than discomforting. It is unacceptable. To perform the duty you expect of me, I need to be

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