Fed’s Fisher May Prefer Treasury Sales to Begin Tightening

Federal Reserve Bank of Dallas President Richard W. Fisher said he’ll be among the first policy makers to push for tighter policy as the economy improves and that one possible first step may be the sale of some of the central bank’s Treasury securities.

“One could make an argument that the most logical thing to do is to undo what you did last,” the regional bank chief, who votes on monetary policy this year, said in an interview yesterday in Dallas. “Markets for Treasuries are very deep and very liquid -- that gives you a lot of maneuvering room,” he said, adding he’s not yet committed to one strategy.