Fed’s Fisher says ball is in “fiscal court,” not Fed’s

The U.S. Federal Reserve is committed to keeping the price of money low until the economic recovery strengthens, but should not do more to boost growth without fiscal and regulatory policies that support businesses, a top Fed official said on Wednesday. The Fed’s recent decision to keep its $2 trillion balance sheet steady was an effort to put a halt to any “passive tightening” that could impede recovery, Dallas Federal Reserve President Richard Fisher told a group of business leaders.