Bloomberg News

Fed’s Fisher Avoids Making Policy Comments in New York Speech

November 02, 2011

Nov. 2 (Bloomberg) -- Federal Reserve Bank of Dallas President Richard Fisher avoided commenting on the central bank’s decision today to keep monetary policy unchanged, while speaking at a New York awards dinner for journalists.

“Tonight, we celebrate not just free markets, but freedom itself,” the policy maker, who votes on the Federal Open Market Committee this year, said in the text of the speech. “Freedom to express thought. Freedom to challenge convention. Freedom to be heard and to be seen and felt doing so.”

Fisher’s speech was delivered hours after the FOMC’s meeting ended in Washington. Fed officials left current policy in place, while saying “significant downside risks” remain.

Fed officials are prohibited from speaking on policy or the economy until after the central bank’s blackout period ends, which is midnight Eastern time on the Thursday after a meeting.

--Editors: Gail DeGeorge, Carlos Torres

To contact the reporter on this story: Vivien Lou Chen in San Francisco at vchen1@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net


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