Monday 23 April 2018

Fed officials back hike in interest rate

The US Federal Reserve. Photo: PA
The US Federal Reserve. Photo: PA

Ann Saphir

As central bankers converge on the mountain resort of Jackson Hole, Wymoing, for an annual conference on monetary policy, a couple of top US Federal Reserve officials took the chance to renew a push for interest-rate hikes, citing improvement in employment and inflation.

"The case is strengthening" for a rate hike, Dallas Fed President Robert Kaplan told CNBC, whose open-air studio overlooks the craggy peaks of the Grand Teton National Park. "And you should conclude from that in the not-too-distant future... I think we're moving toward being able to take another step."

Kansas City Fed President Esther George, had an even stronger message.

"I think it's time to move," she told Bloomberg TV.



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