Fed's Fisher says must watch yields, but can't fear markets

Tue Jun 4, 2013 9:29pm EDT
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TORONTO, June 4 (Reuters) - It is important that the U.S. Federal Reserve monitor the impact of rising bond yields, but the central bank cannot live in fear of how markets will react once it starts to withdraw stimulus, Richard Fisher, president of the Dallas Federal Reserve Bank said on Tuesday.

"We cannot live in fear that gee whiz the market is going to be unhappy that we are not giving them more monetary cocaine," he said following a speech in Toronto.