Fed must move systematically to raise rates, George says | Reuters

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)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Nov 18, 2016 22:00 PM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See