The Federal Reserve Bank's Fisher had the following comments this morning in regards to the US Economy:

• US GDP may turn negative in 2008.
• Remains concerned about inflation outlook
• Unclear whether to offer new liquidity sources.
• US Growth likely to maintain slow pace during the second half.
• Cannot determine whether energy will continue a downward trend, Fed will act if inflation pressures continue.
• Fisher feels the housing sector has not reached its bottom, sees house price continue to decline.
• Treasury and Congress are the best support for the GSE's.