May 1, 2012
Two top Federal Reserve officials – one with a dovish, employment-focused bent, and the other a self-avowed inflation hawk – on Monday both said they see no need for the central bank to ease monetary policy any further.
But the comments, from San Francisco Fed President John Williams and Dallas Fed President Richard Fisher, do not mean they believe the central bank should quickly move to raise rates, which it has kept near zero for more than three years.
The economy grew at a 2.2 percent pace last quarter, down from its 3 percent growth rate in the final three months of the year. Recent economic data, including a gauge of business activity in the Midwest, signal growth may slow further this quarter.
“I don’t think we are ready to exit yet,” Fisher, an inflation hawk, told Reuters at the Milken Institute Global Conference in Los Angeles.