Richard Fisher, president of the Dallas Fed, has made a speech today which sets out where he stands on the question of further monetary easing. Mr Fisher will be a voting member of the FOMC next year.
A few quotes:
On the price front, I am known as an inflation hawk. I am comfortable with that description.
But it is clear that inflation is not the immediate problem facing the nation. As pointed out by the chairman, inflation has declined to a level that is at the low end of the 1.5 to 2 percent range that the participants in FOMC deliberations consider conducive for healthy economic growth over the long run.