Fishing for Fischer
In my contribution today to Dow Theory Letters, I will share my impression of Stan Fischer, the likely incoming Vice Chair of the Federal Reserve. While Janet Yellen will be in the limelight as Fed Chair, as I shall elaborate, he may have a profound impact on the Fed. The dynamic he adds is worth taking a closer look at, as the Fed matters for everything from the value of the dollar to asset prices and, in my assessment, the social fabric of the nation.
After his confirmation hearing last Thursday, Fischer came to California, where, on Friday, he gave the keynote dinner address at a conference I attended at Stanford University. He started out by telling the audience that he has been advised there would be no upside to saying anything interesting; as a result, he chose a variation of a speech he has given numerous times on lessons ... Log in or subscribe to continue reading.
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