PALO ALTO, Calif: Stanley Fischer, U.S. President Barack Obama's pick for the No. 2 job at the Federal Reserve, said on Friday that decades of crisis-fighting have taught him the importance of making policy decisions quickly, even before all relevant data is in hand.
"We tend to underestimate the lags in receiving information and the lags with which policy decisions affect the economy," he said in remarks prepared for delivery to the Stanford Institute on Economic Policy.
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