Stable longer-term inflation expectations shown in the monthly University of Michigan survey are a positive, Fisher told reporters after a speech in Chicago. The Fed must "trust and verify" the inflation trend from here, he said.
CHICAGO (Reuters) - Recent figures on core inflation have been "encouraging" but the United States still faces pressures from growing global resource utilization, Dallas Federal Reserve Bank President Richard Fisher said on Thursday.
Stable longer-term inflation expectations shown in the monthly University of Michigan survey are a positive, Fisher told reporters after a speech in Chicago. The Fed must "trust and verify" the inflation trend from here, he said.
Still, Fisher continued to argue against the need for rate cuts to boost the U.S. economy, which he said could stoke inflation pressures that would be hard to reign in.
He termed the economy "anemic," if still growing, and said it was difficult to judge how long the slowdown would persist.
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