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By Mark Davis
The nation founders, the Lone Star State thrives
Topic - Richard W. Fisher
The dramatic economic slowdown this summer has provoked an increasingly contentious debate among analysts, including an unusually public split among members of the Federal Reserve Board, over the U.S. economy's long-term outlook and the possibility of a Japan-like "lost decade."
Richard W. Fisher, president of the Federal Reserve Bank of Dallas, on Monday said he worries that the Fed's loose money policies will set inflation loose and prove counterproductive.
The problem is not deflation, he said, but the changing rules of the game have created what Fed Chairman Ben S. Bernanke described as "unusual uncertainty," which is thwarting the usual business and consumer enthusiasm for the future that propels growth.