Banker: 'You Can't Rebuild Houston Without Mexican Labor'

The former president of the Dallas Federal Reserve said that reconstruction can happen in Houston, but not "without Mexican labor," The Wall Street Journal reported.

Richard Fisher told the Journal that if President Donald Trump continues to restrict immigration, the necessary workforce to rebuild Houston might not be as robust.

"All these business will have to be reconstructed," Fisher told the Journal. "That's an enormous opportunity, but you can't rebuild Houston without Mexican labor."

But money won't be a problem, Fisher said Tuesday, telling CNBC that the Federal Reserve — in Houston and Dallas — is ready to distribute cash.

"It's about getting that lifeblood of cash into the economy, so you can fill ATMs and people can get to them so they can have it," Fisher told CNBC. "This week, they've instructed banks in the region ... to withhold as much cash as possible to get it out so they can get their trucks eventually to the Houston Fed vaults, take that money out, or use the Dallas vaults, if they need to."

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