Federal Reserve Bank President Speaks In Longview - KLTV.com - Tyler, Longview, Jacksonville |ETX News

12/19/06-Longview

Federal Reserve Bank President Speaks In Longview

The Longview Downtown Rotary club had a special visitor Tuesday, to talk about the country's economic status and how East Texas is doing.   Richard Fisher, the president of the Federal Reserve Bank in Dallas, told the rotary club that even though the housing and auto markets have slowed down, the service economy is up. The United States is producing more than Japan, China and the United Kingdom. Fisher says East Texas is also doing well.

"The employment rate of growth in East Texas is twice that of the rest of the United States, so the issue is how long can this continue, whether we can keep inflation from raising it's ugly head and that's the job of the federal government of holding back the forces of inflation as best we can," said Richard Fisher, president of the Federal Reserve Bank of Dallas.   Fisher also says Texans should be proud because we are producing 25 percent more than all of India.

Molly Reuter, reporting. mreuter@kltv.com

 

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