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Business

No Inflation, Vows Dallas Fed’s Fisher

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Business uncertainty is the economy’s biggest immediate problem, says Richard Fisher:

“They are calling time-outs and heading to the sidelines while they wait for the referees to settle on the rules of the game,” Fisher said. “If this is so, no amount of further monetary policy accommodation can offset the retarding effect of heightened uncertainty over the fiscal and regulatory direction of the country.”

Scott Sumner thinks this is exactly wrong.

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