Kansas City Federal Reserve Bank President Esther George said on Friday that while she supports raising interest rates, the U.S. central bank must do so only gradually. "I do not advocate for high rates,” said George, who dissented several times this year on Fed decisions to leave rates unchanged. “I do not think it will serve the economy well. I do think we have to move more systematically.” The Fed is widely expected to raise rates when it meets next month.
George, speaking at an oil conference at the Houston Branch of the Dallas Fed, said it is still too early to tell how the incoming Trump administration will affect the medium-term outlook for Fed policy.
(Reporting by Ernest Scheyder, writing by Ann Saphir; Editing by Meredith Mazzilli)
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Published Date: Nov 18, 2016 22:00 PM | Updated Date: Nov 18, 2016 22:00 PM