WACO, Texas, Oct 6: Dallas Federal Reserve President Richard Fisher on Thursday said the Fed was closely watching inflation and had taken “appropriate” action so far, but stressed future monetary policy would be data-dependent.

“We are vigilant, and we are watching this all very carefully,” he said in answer to a question from reporters about whether he was concerned inflation could escape the US central bank’s control.

“I think the actions taken by the Federal Open Market Committee have been the appropriate actions. And I assume we will continue to take the appropriate actions, depending on what is happening with the data and the dynamics of the economy,” he told reporters after delivering a speech here.—Reuters