Central Banks

Fischer says global outlook is clouded

Stanley Fischer retired from the FOMC last year but he hasn’t faded away. He spoke to the WSJ and cited Russia, China and Iran as the things that are keeping him awake at night.

“The world changing more than it should is what worries me,” Mr. Fischer
said. “The global political situation is getting significantly worse,”
he said, with de facto “open warfare” between Israel and Iran, as well
as resurgent profiles for Russia and China.

Fischer also touched on the protectionist streak in the US, without naming the President.

“The last thing I imagined the United States would say is the structure
that we had put in place starting in 1944 wasn’t worth a damn,” he said. He also criticized “too much” stimulus from Congress.

On the economy, he brushed off worries about spiking inflation and higher Treasury yields.

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