Fed's Fisher says U.S. housing on 'sustainable rebound'

Fri Mar 14, 2014 1:58pm EDT

Federal Reserve Bank of Dallas President Richard Fisher speaks about the concept of breaking up 'too big to fail' banks to a breakout group at the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, March 16, 2013. REUTERS/Jonathan Ernst

Federal Reserve Bank of Dallas President Richard Fisher speaks about the concept of breaking up 'too big to fail' banks to a breakout group at the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, March 16, 2013.

Credit: Reuters/Jonathan Ernst

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(Reuters) - The U.S. housing sector, whose rise and subsequent crash has made the recovery from the last recession the slowest in decades, now appears to be on a "sustainable rebound," a top Federal Reserve official said.

Economic data from 2013, and especially strong manufacturing, consumer spending and jobs data from the third quarter, suggest the U.S. recovery is "proceeding steadily," Dallas Federal Reserve President Richard Fisher said in a letter accompanying his bank's annual report, published Friday.

Fisher, who votes on Fed policy this year, is one of the U.S. central bank's most hawkish policymakers, and wants the Fed to wind down its bond-buying stimulus as quickly as possible.

Fed officials meet next week in Washington, and are expected to continue to reduce the bond-buying program in light of a growing economy.

(Reporting by Ann Saphir; Editing by Chris Reese)

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