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Fed's Fisher would push for interest hike

Feb. 9, 2007 at 5:23 PM   |   Comments

DALLAS, Feb. 9 (UPI) -- Dallas Federal Reserve bank President Richard Fisher said Friday he would "aggressively" push for interest-rate increases if inflation pressures returned.

Inflation appears to be under control, but if pressures surge, "I would aggressively advocate" for interest-rate hikes, he told Dallas's Rotary Club of the Park Cities.

The Fed has kept benchmark interest rates at 5.25 percent since June.

Fisher is not a voting member of the monetary policy-setting Federal Open Market Committee this year.

Fisher said he was confident the Fed would bring core inflation back down below 2 percent. Core inflation is currently slightly above 2 percent, Fisher said.

© 2007 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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