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.
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 and “begged 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.
“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 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 a “complicated” situation for the Fed amid rising inflation as China locked down its tech hub, Shenzhen. Many have warned this could affect the global supply chain.