Credit Crisis 'Froze' Inflation: Dallas Fed Chief

Nevertheless, US is 'navigating the mother of all financial storms'
By Harry Kimball,  Newser Staff
Posted Nov 4, 2008 1:46 PM CST
Credit Crisis 'Froze' Inflation: Dallas Fed Chief
Richard Fisher, president of the Federal Reserve in Dallas, said today the economic going will be rough even though inflationary pressure has nearly vanished.   (AP Photo)

The credit crisis has had at least one unintended positive effect, stopping a growing threat of inflation, Bloomberg reports. Dallas Fed president Richard Fisher said “inflationary momentum froze in its tracks” as the credit market did the same, but otherwise had a poor view of the economy. “I don't see any economic growth in 2009,” he said. “None.”
(More credit crisis stories.)

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