Texas Fed President, Richard Fisher believes fiscal authorities need to get their act together. “There is a limit to what we can do. We can’t have a Buzz Lightyear monetary policy: to infinity and beyond.”<\/p>\n
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“We have to completely reboot tax policy. We need to completely reboot spending policy……..This is all about job creation…..We have to build confidence in the business community, who are the job creators. And until we give them some clarity, they are just going to hold back. If we have temporary fixes to the fiscal cliff this just pushes out the envelope of indecision…… Just get the job done. Give the business community and those who employ people — the private sector — a sense of direction and confidence. Right now they know nothing. They don’t know what their taxes are going to be. They don’t know what spending patterns are going to be. They don’t know what the costs of these massive regulatory initiatives are going to be…. No business can plan right now…..”<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"
Texas Fed President, Richard Fisher believes fiscal authorities need to get their act together. “There is a limit to what we can do. We can’t have a Buzz Lightyear monetary policy: to infinity and beyond.” [gigya name=”cnbcplayer” PLUGINSPAGE=”http:\/\/www.macromedia.com\/go\/getflashplayer” allowfullscreen=”true” allowscriptaccess=”always” bgcolor=”#000000″ height=”380″ width=”400″ quality=”best” wmode=”transparent” scale=”noscale” salign=”lt” src=”http:\/\/plus.cnbc.com\/rssvideosearch\/action\/player\/id\/3000129200\/code\/cnbcplayershare” type=”application\/x-shockwave-flash”] Fisher’s frustration with Washington is hard … <\/p>\n
Continue reading “Richard Fisher | Politicians need to get their act together”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31,5,34],"tags":[59,1412,2346],"class_list":["post-6160","post","type-post","status-publish","format-standard","hentry","category-the-fed-banks-interest-rates","category-economy","category-us-canada-countries-regions","tag-fiscal-cliff","tag-fiscal-policy","tag-monetary-policy"],"yoast_head":"\nRichard Fisher | Politicians need to get their act together - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Richard Fisher | Politicians need to get their act together - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Texas Fed President, Richard Fisher believes fiscal authorities need to get their act together. “There is a limit to what we can do. We can’t have a Buzz Lightyear monetary policy: to infinity and beyond.” [gigya name=”cnbcplayer” PLUGINSPAGE=”http:\/\/www.macromedia.com\/go\/getflashplayer” allowfullscreen=”true” allowscriptaccess=”always” bgcolor=”#000000″ height=”380″ width=”400″ quality=”best” wmode=”transparent” scale=”noscale” salign=”lt” src=”http:\/\/plus.cnbc.com\/rssvideosearch\/action\/player\/id\/3000129200\/code\/cnbcplayershare” type=”application\/x-shockwave-flash”] Fisher’s frustration with Washington is hard … Continue reading "Richard Fisher | Politicians need to get their act together"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/13\/richard-fisher-politicians-need-to-get-their-act-together\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2012-11-14T02:15:38+00:00\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/11\\\/13\\\/richard-fisher-politicians-need-to-get-their-act-together\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/11\\\/13\\\/richard-fisher-politicians-need-to-get-their-act-together\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Richard Fisher | Politicians need to get their act together\",\"datePublished\":\"2012-11-14T02:15:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/11\\\/13\\\/richard-fisher-politicians-need-to-get-their-act-together\\\/\"},\"wordCount\":227,\"commentCount\":2,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"keywords\":[\"\\\"Fiscal Cliff\\\"\",\"Fiscal Policy\",\"Monetary Policy\"],\"articleSection\":[\"Banks & Interest Rates\",\"Economy\",\"US & Canada\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/11\\\/13\\\/richard-fisher-politicians-need-to-get-their-act-together\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/11\\\/13\\\/richard-fisher-politicians-need-to-get-their-act-together\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/11\\\/13\\\/richard-fisher-politicians-need-to-get-their-act-together\\\/\",\"name\":\"Richard Fisher | Politicians need to get their act together - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"datePublished\":\"2012-11-14T02:15:38+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/11\\\/13\\\/richard-fisher-politicians-need-to-get-their-act-together\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/11\\\/13\\\/richard-fisher-politicians-need-to-get-their-act-together\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/11\\\/13\\\/richard-fisher-politicians-need-to-get-their-act-together\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Richard Fisher | Politicians need to get their act together\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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He\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62781,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/10\/18\/lax-fiscal-policy-is-the-root-cause-of-inflation\/","url_meta":{"origin":6160,"position":1},"title":"Lax Fiscal Policy is the Root Cause of Inflation","author":"Colin Twiggs","date":"October 18, 2025","format":false,"excerpt":"Key Points A recent Bank of England study highlights the importance of responsible fiscal policy in controlling inflation. A recent paper from Michael Bordo, Oliver Bush, and Ryland Thomas at the Bank of England argues that loose fiscal policy is the root cause of inflation rather than lax monetary policy.\u2026","rel":"","context":"In "Deficit Spending & Employment"","block_context":{"text":"Deficit Spending & Employment","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/deficit-spending-employment\/"},"img":{"alt_text":"UK Inflation Spike in the 1970s","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-10-17-uk-inflation2.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-10-17-uk-inflation2.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-10-17-uk-inflation2.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-10-17-uk-inflation2.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":28563,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/10\/27\/100-years-of-monetary-policy-in-a-single-chart\/","url_meta":{"origin":6160,"position":2},"title":"100 years of monetary policy in a single chart","author":"Colin Twiggs","date":"October 27, 2021","format":false,"excerpt":"This chart from Lyn Alden sums up US fiscal and monetary policy over the past 100 years. When the private debt bubble (orange peak) bursts -- as in 1930 or 2008 -- print a lot of money, cut interest rates, and devalue the Dollar. Run large fiscal deficits to substitute\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16125,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/02\/26\/richard-koo-surviving-in-the-intellectually-bankrupt-monetary-policy-environment\/","url_meta":{"origin":6160,"position":3},"title":"Richard Koo: Surviving in the Intellectually Bankrupt Monetary Policy Environment","author":"Colin Twiggs","date":"February 26, 2018","format":false,"excerpt":"https:\/\/youtu.be\/8YTyJzmiHGk Richard C. Koo, Chief Economist, Nomura Research Institute, at the ACATIS Value Konferenz 2016 in Frankfurt Why QE doesn't work. I have the greatest respect for Richard Koo and his unconventional, balance-sheet-recession approach to economics. It strikes me is that if central banks lower interest rates to stimulate borrowing\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/img.youtube.com\/vi\/8YTyJzmiHGk\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":5014,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/07\/31\/no-end-to-long-term-unemployment-business-insider\/","url_meta":{"origin":6160,"position":4},"title":"No End To Long-Term Unemployment – Business Insider","author":"Colin Twiggs","date":"July 31, 2012","format":false,"excerpt":"J BRADFORD DE LONG, professor of economics at University of California at Berkeley, argues for expansionary monetary and fiscal policy. At its nadir in the winter of 1933, the Great Depression was a form of collective insanity. Workers were idle because firms would not hire them; firms would not hire\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6461,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/12\/dangers-of-quantiative-easing-may-be-political-more-than-technical\/","url_meta":{"origin":6160,"position":5},"title":"Dangers of quantiative easing may be political more than technical","author":"Colin Twiggs","date":"December 12, 2012","format":false,"excerpt":"Glenn Stevens, governor of the Reserve Bank of Australia, in an address to the Bank of Thailand today commented on the dangers facing central bank monetary policy: For the major countries a further dimension to what is happening is the blurring of the distinction between monetary and fiscal policy. Granted,\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=6160"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6160\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=6160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=6160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=6160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}