Asks Fisher for his reaction to the possibility of Jerome Powell stepping down, framing it as extremely unlikely.
speaker1
Richard Fisher
Powell is convinced he is right; stepping down would sacrifice Fed independence. He has broad support from global central bankers, major bank CEOs, and senior Republican senators.
Asks if Powell was right to release a rare video message addressing the political attacks.
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Richard Fisher
Powell had 'had enough' of being taunted. Dismisses the credibility of the political attacks, noting the biased sources.
Asks if the political pressure would deter other potential Fed chair candidates (Warsh, Waller, Rieder) from accepting the job.
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Richard Fisher
The candidates are capable and understand they must carry the FOMC committee, not act as a dictator. The New York Fed President has made clear the Fed shouldn't be interfered with.
Richard Fisher
Explicitly states: 'I don't expect... there to be a rate cut at this next meeting.'