That means if Congress play partisan politics and a big tax hike kicks in, the first quarter turns negative and lawmakers are still scurrying around Washington, unable to reach a deal – don't expect a massive bond buying program, explained Larry Kudlow.
It's not coming. (Read More: Fiscal Cliff: America's Looming Economic Crisis)
Fisher went on to say lawmakers have to step up – and if need be he thinks the Fed should force their hand.
"The more we do at the Fed, the more excuses politicians have to do nothing."
And Fisher is tired of the indecision.
"Fiscal authorities must get their act together," he said, "We can't just rely on monetary policy – we can't have a monetary policy of infinity and beyond."
"The Fed has been carrying the ball," Fisher added. "But we can't carry the ball all by ourselves."
*It's worth noting in the interview Fisher emphasized that what's outlined above was strictly his opinion and not that of Ben Bernanke. You can see our entire interview with Dallas Fed President Richard Fisher in the video above.
"The Kudlow Report" airs weeknights at 7 p.m. ET.