Fed's Richard Fisher Says, “Low Fed Rates For Some Time”

The US economy is unlikely to go into a double-dip recession, but the recovery will be anemic, said Dallas Federal Reserve President Richard Fisher on CNBC today.

"It is sort of a post-traumatic shock syndrome" that the economy goes through and it will take a long time to cure,” Fisher said.

On Interest rate policy, Fisher said: "I expect we'll have low interest rates for some time, and current interest rates are appropriate. "There's a lot of liquidity out there, the question is when will it be put to work? Answer: when there's greater certainty.”

Commenting on the state of business, Fisher said: “The US still has a significant unemployment problem because businesses will not hire people until they feel more confident about the economy, But meanwhile, businesses have cut costs to the bone, becoming very efficient.”