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)

(Newser) – 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.”
(Read more credit crisis stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.