Dallas federal bank leader says policy not affected by political remarks

Print
Email
|

by BRAD WATSON

WFAA

Posted on August 19, 2011 at 7:15 PM

Updated Friday, Aug 19 at 7:49 PM

DALLAS - One thing that Gov. Rick Perry, who's running for the Republican nomination for president, and the Dallas Federal Reserve Bank share is their enthusiasm for Texas' job growth.

But, the agreement ended when Perry criticized the federal bank for how it controls interest rates and the money supply.

In return, the leader of the Federal Reserve Bank of Dallas, Richard Fisher, said he has some advice for Perry.

Perry's comment that Federal Reserve Bank Chairman Ben Bernanke would be "almost treasonous" to stimulate the economy by growing the money supply further was just the latest from Texas politicians.

On a taping of Inside Texas Politics, Fisher said he's heard it before.

"We're used to this here," he said. "I understand how people think. I noticed the governor clawed back from that. Treason, by the way, is the only crime stated in the constitution and punishable by death. That's not what he meant."

Fisher said he's no apologist for Perry.

But, what he would like to hear from the governor and other presidential candidates is what they would do with the federal budget, regulations, taxes and debt to motivate companies to start hiring.

"The main thing is presidential candidates working with Congress," Fisher said. "Once they become president, [they] have to get our fiscal policy in order."

Perry's charge against the federal bank won't likely be the last.

Does such criticism affect Fisher and other federal decision makers?

"No, no," he said. "We don't think about politics when we make policy."

For Perry, the charge made the kind of headlines that many conservative Republican primary voters want to see.

The full interview with Fisher can be seen on Inside Texas Politics during the 9 a.m. Sunday  newscast.

Print
Email
|