Dallas Fed's Fisher on the status of the economy

In the speech 'An update on the status of the economy and its implications for monetary policy' given on 16 August Richard Fisher of the Federal Reserve Bank of Dallas said inflation continues to trend upwards and the Federal Reserve will not hesitate to hike rates further if necessary.

"There is a definite increase in inflationary momentum," Fisher said in the speech to a Dallas business group.

"The Federal Reserve will not tolerate inflation," he said, but added that "that doesn't mean we need

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