Another Fed President Confirms Fed Credibility Undermined

Tyler Durden's picture

We have heard from the doves, now the hawks. Dallas Fed's Fisher (a non-voting member) pulls no punches in his speech this morning. Confirming Esther George's comments last week, and our views on the same:

  • *FISHER SAYS HE TRIED LAST WEEK TO PERSUADE FOMC TO TAPER QE
  • *FISHER SAYS DECISION NOT TO TAPER QE UNDERMINED FED CREDIBILITY

But that was not it. The well-known hawk went to warn that:

  • *FISHER: BIGGEST BANKS ARE `DAGGER POINTED' AT ECONOMY'S HEART
  • *FISHER SAYS NO QE TAPER ADDS TO `UNCERTAINTY' ABOUT FED POLICY

None of this should come as a surprise as Fisher told Santelli earlier in the year that "this cannot go on forever!"

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