March 20, 2013
In the event the U.S. goes off the fiscal cliff, don’t expect the Fed to shield markets from the worst. In an interview on The Kudlow Report last night, hawkish Dallas Fed president Richard Fisher told me he’d resist that kind of intervention.
“I do not see us as that kind of safety net,” he said. “There’s got to be a limit. In committee we’d have to decide what kind of limit, but there’s got to be a limit.”
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