Federal Reserve Bank of Dallas President Richard Fisher, in remarks Tuesday,
says he expects economic growth to “decelerate to a snail’s pace, if not
completely grind to a halt” in the second half of this year, with a slowdown
that may extend into 2009. He devotes most of his speech to inflation,
addressing the prospect that inflation will moderate against his continued
warnings this year about the inflation threat. Mr. Fisher employs an extended
metaphor — featuring his neighbor’s pet python, Julius Squeezer — to assess the
risks from rising prices and raises the prospect of “a lingering inflationary
fever.”

Mr. Fisher, who has dissented in five Fed interest-rate decisions this year in
favor of tighter policy, says officials “must remain poised to act if slowing
growth fails to contain inflationary pressures.” Excerpts of his remarks to a
Progress & Freedom Foundation gathering in Aspen, Colo.:
http://blogs.wsj.com/economics/2008/08/19/feds-fisher-energy-cost-reversal-may-n\
ot-ease-inflation/



_________________________________________________________________
If you like crossword puzzles, then you'll love Flexicon, a game which combines
four overlapping crossword puzzles into one!
http://g.msn.ca/ca55/208