Fed’s Fisher Says U.S. Economy Improving, Employment Rising

Federal Reserve Bank of Dallas President Richard Fisher said the U.S. economy is accelerating as businesses are increasing hiring and risks of a recession have fallen in recent months.

“We worry less about a double-dip recession,” while risks from the European debt crisis remain, Fisher said today in response to questions following a speech at the Mexican Stock Exchange.

“We do believe we have inflation under control at the central bank, or near control,” Fisher said. “Now the object is to put people back to work. It will only happen when private businesses have more confidence. They are beginning to hire, but it is a slow process.”

Fisher also repeated his view that the biggest U.S. banks are too large and should be broken up. “The power of the five largest banks is too concentrated,” he said. The banks have become larger since the 2008 financial crisis and are now ‘too bigger to fail.’”

To contact the reporters on this story: Steve Matthews in Atlanta at smatthews@bloomberg.net; Nacha Cattan in Mexico City at ncattan@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net

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