Dallas Fed Chief: Texans are ‘lucky puppies’ in economic recovery

August 2, 2010

Texans are “lucky puppies” thanks to the relative strength of the state’s economy, but regulatory uncertainty is threatening the national recovery, Federal Reserve Bank of Dallas President Richard Fisher said Thursday.

In Texas, weak spots such as commercial real estate remain, and recent Dallas Fed surveys of manufacturers have yielded disappointing results.

But job creation this year has been stronger than in the nation as a whole, Fisher said, citing particularly impressive gains in private-sector and goods-producing jobs.

“So we have been lucky puppies,” he said.