Fed’s Fisher Says Monetary Policy Has Reached Its Limit

Federal Reserve Bank of Dallas President Richard Fisher said central bank efforts to boost the economy have reached their limits and the U.S. faces a “fiscal reckoning” that only lawmakers can resolve.

“Our great country now finds itself in a very difficult predicament,” Fisher, 62, said today in a speech in Dallas. “Congress can no longer carry on as before, oblivious to the deleterious effect of spending our, and the successor generations’, money with unfunded abandon.”