Richard Fisher, the president of the Federal Reserve Bank of Dallas, said Wednesday that regulators in Washington need to provide "clarity" on future rulemaking to help ease fears by small businesses and corporations.
"There's too much confusion about what's going forward, so people are uncertain, they're hoarding cash, they're holding back, they're not hiring people," said Fisher, in a televised interview with CNBC.
Fisher said such regulatory certainty would help get banks back on track with lending and help companies get back to spending.
The confusion, he said, does not rest with monetary policy conducted by the central bank, but future rulemaking that will occur as part of financial regulatory reform.
"We need clarity," Fisher said. "You can't eliminate uncertainty, but you have to reduce it as much as possible."
