FOMC's Fisher cautions market against overreaction

06/25/2013 | CNBC

Richard Fisher, a member of the Federal Open Market Committee and president of the Federal Reserve Bank of Dallas, warned that markets shouldn't react to the Fed's plan to reduce its bond-buying program. Fisher said he fully expected the Fed to be tested by the market in the wake of the news. "I don't think anyone can break the Fed. ... But I do believe that big money does organize itself somewhat like feral hogs," he said. "If they detect a weakness or a bad scent, they'll go after it."

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