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Fed’s Fisher Says He Does Not Push For Higher Rates

Speaking at an inflation conference at the Boston Federal Reserve, Richard Fisher of the Dallas Fed said he was not advocating an increase in interest rates even though he "drew the line" when the Fed funds target was at 3.50%.

The financial turmoil was not a "storm", but a "spring shower" said Fisher, warning that the greatest vulnerabilities of the U.S. economy were unfunded liabilities such as Medicare.