Dallas Fed Chief Richard Fisher is known for his uber-hawkish monetary and fiscal policy.We won’t spend time here debating his stance, or anything like that, but we will note that in a new speech, he invents a bunch of weird terms.
- We dare not become the central bank counterpart to Congress by adopting a Buzz Lightyear approach of “To infinity and beyond!” by endlessly purchasing U.S. Treasuries and agency debt so as to encumber future generations of central bankers with Hobson’s choices when it comes to undoing what seems contemporarily appropriate.
- . We all know it is far past due for our federal politicians—Democrats who may “enjoy it more” and Republicans who are distinguished only by that single difference—to begin acting like the responsible fiduciaries of the nation’s fiscal accounts they are supposed to be, rather than as the parasitic wastrels they have unwittingly let themselves become.
- Only the Congress of the United States can now save us from fiscal perdition.
- Pray that the president and the Congress will at last tackle the fiscal imbroglio they and their predecessors created and only they can undo.
At the end he does drop a very funny line:
- Thank you. Now, in the great tradition of central bankers, I would be happy to avoid answering any questions you might have.
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