Fisher on the Federal Reserve and Texas

In the speech 'The Federal Reserve and Texas' given on 29 August Richard Fisher of the Federal Reserve Bank of Dallas said a global boom has been under way for four years now, ignited in no small degree by the easy monetary policy that began in 2001.

"There was a bit of a lag before it kicked in, but when it did, it kicked in big-time all over the world. Global GDP has been growing at roughly a 5 percent annual rate, eclipsing the U.S. average of 4 percent. Excess global capacity has been

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