Former Fed Member Says They Have Egg on Their Face Now

Former Dallas Federal Reserve Bank President Richard Fisher said Tuesday the Fed should heed the call of central bankers around the world and get on with hiking interest rates.

“I love my colleagues. You know that. I love the process of the FOMC, but they have egg all over their face,” he told CNBC’s “Squawk Box,” referring to the Federal Open Market Committee, the Fed’s policymaking body.

“Uncertainty is the enemy of decisionmaking. We know that as business people. Make a decision. Act on it.”

The FOMC last month declined to raise interest rates, in part due to concerns about the potential for weakness abroad to spill over into the U.S. economy.


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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza