Dallas Fed Chief Fisher, Top Hawk, To Retire

Nov 14 2014 | 6:38am ET

Richard Fisher, the hedge-fund-manager turned monetary-policy-hawk, will step down as president of the Federal Reserve Bank of Dallas next year, after a decade in the post.

Fisher’s retirement was widely expected, but it now has a firm date: March 19. The Dallas Fed said it had hired a recruiting firm to help it find a new president.

Fisher, the second-longest-serving regional Fed chief, was appointed head of the Dallas Fed in April 2005, after a varied business and political career, which began at Brown Brothers Harriman and Co. In between finance jobs, which included a stint running his own asset-management business, Fisher Capital Management, he served as a special assistant to the U.S. Treasury Secretary under President Jimmy Carter and deputy U.S. trade representative under President Bill Clinton. He also made two unsuccessful runs for the U.S. Senate from Texas.

During his decade at the helm of the Dallas Fed, Fisher has become best-known for his championing of Texas’ economy and his extreme skepticism about the fiscal policy pursued by Fed Chairmen Ben Bernanke and Janet Yellen. Fisher has repeatedly dissented from the Fed’s quantitative easing programs, and has recently pushed for the central bank to raise interest rates sooner rather than later.

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