Former Dallas Federal Reserve President hits Biden energy agenda as attempt to 'beg others' to produce oil

CNBC reporter Steve Liesman asked Fisher for his take on the diplomatic effort to get gas from Venezuela and Saudi Arabia and other countries with the ability to produce oil to then reduce the prices of gas in America. Fisher reflected on his experience with the Carter administration, in which he served as assistant to the Secretary of Treasury in the late 1970s.

President Joe Biden delivers remarks on the debt ceiling during an event in the State Dining Room of the White House, 星期一, 十月. 4 在华盛顿.

President Joe Biden delivers remarks on the debt ceiling during an event in the State Dining Room of the White House, 星期一, 十月. 4 在华盛顿. (美联社照片/ Evan Vucci)

FEBRUARY INFLATION: WHERE ARE RISING PRICES HITTING AMERICANS THE HARDEST?

Fisher said he traveled with Secretary of State Cyrus Vance and Treasury Secretary Michael Blumenthal, WHO “created a commission with the Saudis and the Kuwaitis.He said they went andbegged them to produce more oil,” 补充说是 “exactly what is happening today.Fisher noted they also went to meet with president in Venezuela.

Shell gas pump showing high gas prices in Lafayette, 加利福尼亚州, 十一月 25, 2021. (Photo by Smith Collection/Gado/Getty Images)

Shell gas pump showing high gas prices in Lafayette, 加利福尼亚州, 十一月 25, 2021. (Photo by Smith Collection/Gado/Getty Images) (盖蒂图片社)

I’m a Texan. I don’t understand why we wouldn’t incentivize our own output sector here rather than just go and beg others to produce more,” Fisher said.

INFLATION RISES 7.9% IN FEBRUARY, A NEW 40-YEAR HIGH

Inflation hit another 40-year high in February as it rose to 7.9 percent with gas prices rising 6.6 百分. The price of gas accounted for nearly a third of the overall price hikes.

The former Dallas Fed president also discussed inflation and wages with co-host Rebecca Quick, who noted acomplicatedsituation for the Fed amid rising inflation as China locked down its tech hub, Shenzhen. Many have warned this could affect the global supply chain.

华盛顿 - 一月 22:  The Federal Reserve building is seen January 22, 2008 在华盛顿, 直流.  (Chip Somodevilla/Getty Images 摄)

华盛顿 – 一月 22: The Federal Reserve building is seen January 22, 2008 在华盛顿, 直流. (Chip Somodevilla/Getty Images 摄)

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