Dalls Fed President Fisher says more easing may be harmful

Additional monetary accommodation may only fuel inflation fears, said Fed President Richard Fisher in a speech today, according to a transcript. While the Fed's accommodating monetary policy has been necessary, businesses won't begin to hire at a much faster pace until they have more certainty about future changes in regulations and taxes, Fisher said. Texas has outperformed the rest of the U.S. partly because it has adopted "prudent" fiscal and regulatory policies, said Fisher. If the national employment situation is to improve, American policy makers must change the country's regulatory and fiscal policies, said the Dallas Fed President. Wall Street's belief that the Fed will implement a new round of quantitative easing is "a fantasy," Fisher added, according to CNBC.