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US Rate Decision Depends on Data: Fed's Fisher

Federal Reserve Bank of Dallas President Richard Fisher said on Wednesday a decision on interest rates at the central bank's December meeting would depend on coming data, but emphasised that the economic risks were not all on the downside.

Speaking to reporters after giving a speech to Australian business economists, Fisher also said he expected U.S. growth to slow in the current quarter but he did not foresee a recession.

Fisher, who will become a voting member of the Fed's policy committee next year, also said speculation that foreign investors might pull money out of U.S. denominated assets because of a falling U.S. dollar was "grossly exaggerated".

The Fed has eased policy twice since September, cutting the funds rate a total 75 basis points to help cushion the impact from a slumping housing market, and there has been speculation it might cut again in December.

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