Former Dallas Federal Reserve President
Richard Fisher sees the potential for a market correction of
“substantial magnitude” as traders have grown “lazy,” he said on Friday.
“Are we vulnerable in my personal opinion to a significant equity market correction? I do believe we are, and the reason for that is people have gotten lazy. They’ve depended totally on the Fed,” he told CNBC’s “Squawk on the Street.”
Fisher retired on Thursday, having occupied the Dallas Fed’s highest office for the last decade. Regarded as a policy hawk, he frequently said the central bank should raise interest rates sooner rather than later.
“Are we vulnerable in my personal opinion to a significant equity market correction? I do believe we are, and the reason for that is people have gotten lazy. They’ve depended totally on the Fed,” he told CNBC’s “Squawk on the Street.”
Fisher retired on Thursday, having occupied the Dallas Fed’s highest office for the last decade. Regarded as a policy hawk, he frequently said the central bank should raise interest rates sooner rather than later.
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