2006 News Releases

For immediate release:
November 16, 2006

Media contact:
James Hoard
Phone: (214) 922-5307
e-mail: james.hoard@dal.frb.org

Statement from Federal Reserve Bank of Dallas president and CEO Richard W. Fisher

SUBJECT: Death of Milton Friedman

DALLAS—Federal Reserve Bank of Dallas president and CEO Richard W. Fisher issued the following statement:

“Milton Friedman was a giant in the history of economic thought. His contributions to monetary theory fundamentally changed the way central banks contemplate monetary policy. He was a champion of economic freedom and used his remarkable ability to communicate to further the principles that made America the exemplar of capitalism and progress. We consider him the patron saint of the Dallas Fed.

“Perhaps his greatest attribute was his love for and partnership with his wife, Rose, to whom we send heartfelt condolences.”

NOTE: In 2003, the Dallas Fed hosted Milton and Rose Friedman at a conference examining the power of ideas and recognizing his groundbreaking work "Free to Choose." In October 2005, Mr. Fisher had the opportunity to interview Dr. Friedman about the power of ideas regarding economics, globalization and related subjects.

For an excerpt from Mr. Fisher’s interview with Milton Friedman, please visit the Dallas Fed web site at www.dallasfed.org.