| NORMAN, Okla., April 10
NORMAN, Okla., April 10 Chiefs of U.S. companies
are worried the Federal Reserve's super-easy monetary policies
could fuel future inflation, a top Fed official said on Tuesday.
"To a person, I am pleaded with, 'please no more
liquidity'," Dallas Federal Reserve Bank President Richard
Fisher told students at the University of Oklahoma's Price
College of Business.
Fisher said he talks to business contacts at companies large
and small, including Wal-Mart, which he did not mention
by name but described as a company with more than a million
employees headquartered in Arkansas.
Those contacts have told him they are afraid the Fed's
policies are an "ember" in what could become an "inflationary
fire," he said.
The Fed has kept short-term interest rates near zero since
December 2008 and has bought $2.3 trillion in Treasuries and
mortgage-backed securities to push borrowing costs down even
But the recovery from the worst downturn since the Great
Depression - now well into its third year -- has been slow, and
the Fed last month reiterated its plan to keep benchmark rates
near zero through late 2014 to help nurse it along.
Fisher, who is not a voter this year on the Fed's
policy-setting panel, has long been opposed to the Fed's
zero-rate interest policy, and has said he will not support any
Fisher said he believes that what the economy needs most is
better clarity on the future of taxes and regulation.