Dallas Fed's Richard Fisher Hails From "The Strongest Economic Region Within the United States"
The Dow Jones Industrial Average is way up this a.m., and some of the credit, if you will, is going to Richard Fisher, president and chief executive officer of the Federal Reserve Bank of Dallas, who yesterday delivered a credit-crunching speech in D.C. during which he vowed that "The Fed will do whatever it needs to do to be a credible backstop in support of the credit system." Fisher, always quotable, also had this to say during his remarks to the International Institute of Finance Annual Membership Meeting. --Robert Wilonsky
I hail from the strongest economic region within the United States. Texas has an economy that is larger than India's, created roughly 30 percent of all private sector jobs in America last year, expects to have employment growth of around 1.5 percent this year despite the slowing of the national and international economies into which it sells, is the country's second largest manufacturing center, is the largest exporting state, and was singled out by the Financial Times on Friday as enjoying "the best" economic situation in the U.S.