By John Tamny of Forbes
Despite a collapsed dollar at all-time lows when compared with gold and nearly every major foreign currency, U.S. Federal Reserve officials are quite sanguine about inflationary pressures. Asked about the weak dollar recently, Richard Fisher, president of the Dallas Fed, said that “in terms of its inflationary input, unless it becomes disorderly, a depreciating dollar–a gradually depreciating dollar–doesn’t necessarily add an enormous inflationary impulse.”
Fisher is generally viewed by Fed watchers as an inflation hawk.
When asked his own thoughts on the weak dollar, Philadelphia Fed President Charles Plosser said, “I don’t view that as anything particularly of concern.” Plosser is also considered one of the Fed’s major inflation worriers.
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