Fed’s Fisher: lots of liquidity in U.S. economy

Richard W. Fisher, President and Chief Executive Officer for the Federal Reserve Bank of Dallas, speaks on International Economics at the Council on Foreign Relations in New York, March 3, 2010. REUTERS/Shannon Stapleton

 

WASHINGTON (Reuters) – Dallas Federal Reserve President Richard Fisher said on Tuesday there was ample liquidity in the U.S. financial system and no need for the U.S. central bank to continue its extremely easy monetary policy.

Interviewed on CNBC television, Fisher said U.S. businesses’ balance sheets were in good shape and were awaiting clearer signs about how the economy will develop before they kick up the pace of hiring.

“This is going to be a very slow process and right now we need to get the fiscal side” lined up, Fisher said.

(Reporting by Glenn Somerville, Editing by Chizu Nomiyama)