Fed's Fisher says hopes new Congress will not interfere with Fed's independence
Reuters
Published Nov 05, 2014 11:17AM ET
Fed's Fisher says hopes new Congress will not interfere with Fed's independence
WASHINGTON (Reuters) - Dallas Federal Reserve president Richard Fisher said on Wednesday he hopes the new Republican-controlled Congress will limit any new laws that might endanger the Fed's independence.
"There are many different arguments being put forward," Fisher said on Bloomberg television, referring to proposals to audit the Fed and force the central bank to follow strict rules for setting interest rates. The Republican win on Tuesday could add momentum to those ideas.
"I hope they will be responsible in terms of limiting the amount they wish to interfere with our independence," Fisher said. "I think it is very dangerous to tamper with the institution. Yes, we could be updated and tweaked but on balance we have lasted 100 years and on balance we have done a very good job."
(Reporting by Howard Schneider; Editing by Chizu Nomiyama)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.