"China cannot succeed if the U.S. does not succeed," he said at a speech sponsored by the Asia Society, noting that while China owns a lot of U.S. Treasuries its economy is still depending on U.S. consumer spending.

Fisher, who was answering questions after delivering a speech similar to one given in Tokyo last week, also said that he sees a strong case in favor of the dollar due to stronger capital returns in the United States.

(Reporting by Kevin Plumberg; Editing by Tomasz Janowski)