Former Fed President: “Living In Constant Fear Of Market Reaction Is Not How You Manage Central Bank Policy”

In the past three months, former Dallas Fed president (before he was replaced with a former Goldman M&A banker) and current Barclays senior advisor, has not minced his words when it comes to his ongoing criticism of the Fed.
Back in January Fisher said (what even Liesman has now suggested) that “We Frontloaded A Tremendous Market Rally” and there is “No Ammo Left“, followed by a second appearance earlier this month when he said that the Fed “Injected Cocaine And Heroin Into The System To Create A Wealth Effect.”
This morning Fisher was again on CNBC to discuss Yellen’s dovish speech at the Economic Club of NY, and said that the Fed is “living in a constant fear of a market reaction. This is not how the way you manage central bank policy.”
Fisher also says that the asymmetry of risks, by which he means the ability to only cut so much when recession hits, is “a big deal and what that means is that Fed does not have a whole lot to give back”, although he adds that “the nice thing is that there was no mention of negative interest rates, and nothing much left.”

This post was published at Zero Hedge on 03/30/2016.