Worthy Christian News » US News » Fed official says 1 rate increase might be needed this year


Fed official says 1 rate increase might be needed this year

Thursday, August 4, 2016 | Tag Cloud Tags: ,

breaking us news fed
The Eccles Building in Washington, D.C., which serves as the Federal Reserve System's headquarters.

(Worthy News) - A Federal Reserve official who has been a leading supporter of a slow approach to raising interest rates said Wednesday that one rate increase "could be appropriate" this year.

Charles Evans, president of the Fed's Chicago regional bank, didn't specify whether he thought that rate increase should come at the Fed's next policy meeting in September or as late as December. He also said he might still prefer no rate increase at all this year until he sees inflation rising above its current low level.

The Fed has sometimes expressed concern that it might start raising rates too late and fall behind in efforts to fight inflation. But Evans, speaking to a group of reporters, said he isn't sure that concern is relevant today given how low inflation has remained. A key price gauge favored by the Fed has stayed below the central bank's 2 percent target level for four years. [ Source ]

Copyright 1999-2017 Worthy News. All rights reserved.
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News » US News » Fed official says 1 rate increase might be needed this year

Leave a Comment

Worthy Christian News » US News » Fed official says 1 rate increase might be needed this year