“A short-term fix to the fiscal cliff will do nothing but push out the envelope of indecision and we will continue to be plagued by high unemployment,” Fisher said.
Unemployment has been above 8 percent for more than three years; inflation is currently below the Fed’s goal of 2 percent.
Fisher, who opposed the new round of stimulus, said he agrees that the issue of the day is jobs and putting people back to work, but was concerned that the Fed could lose its focus on inflation.
“I do think that it would be a dangerous thing if we were to abandon containing inflation and inflation expectations to achieve employment targets,” Fisher told reporters after the speech. “We have to make sure that we carefully work on both fronts.”
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