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Quite some time before short-term rates will rise -Fed's Fisher
March 21, 2014 / 6:55 PM / 4 years ago

Quite some time before short-term rates will rise -Fed's Fisher

LONDON, March 21 (Reuters) - A top Federal Reserve official said on Friday it would be quite a while before the central bank would start raising short-term rates but could not give a timeframe.

Dallas Federal Reserve President Richard Fisher also said changing interest rates on excess reserves banks park at the Fed was one exit option.

“It’s a tool we can use, particularly on the exit side, once we start moving short-term base rates,” Fisher said in London.

“I‘m not going to put a timeframe,” he said, referring to the potential rise in short-term rates. “It will be quite some time.”

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.

He also said he had no “buts” about the Fed continuing to withdraw from its ultra-loose monetary policy.

“I personally have no qualms about injecting a bit more volatility into the market,” he added. (Reporting by Ana Nicolaci da Costa and Natsuko Waki; Editing by Susan Fenton)

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