Dallas Fed Bank President Says Inflation on the Rise

August 17, 2006 11:30 AM, EDT

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ichard Fisher, president of the Federal Reserve Bank of Dallas, said inflation is on the rise, making it difficult to say whether future Fed hikes are possible, the Associated Press reported.

Fisher said while economic growth is moderating, due in part to a sliding housing market and surging energy prices, no recession is likely, AP reported.

Last week, the Fed voted to pause its rate hiking campaign after 17 consecutive quarter-point increases. (Click here for previous coverage.)