Fed's Fisher: U.S. will probably avoid recession

SAN FRANCISCO (Reuters) - The United States is in for a spell of "anemic" economic growth but probably not a recession, Dallas Federal Reserve Bank President Richard Fisher said on Wednesday.

"I'm not forecasting a recession, just a slow economic cycle," Fisher said while answering questions from the audience after a speech to the Commonwealth Club of California in San Francisco.

Fisher said economic activity will be dampened by caution among banks and other financiers in the wake of the credit crunch, as well as the "trickle-down" impact on consumption of higher commodity prices.

"Inflationary pressures are now too high," he said.

(Reporting by Ros Krasny; Editing by Leslie Adler)