March rate hike deserves serious consideration, Fed's Powell says

A top US monetary policy-maker added his support to those calling for an interest rate hike to receive serious consideration at the central bank's next policy meeting.

In remarks to CNBC, Federal Reserve governor Jerome Powell reportedly said inflation and employment conditions are near enough to rate-setters' legal mandate so as to merit serious consideration.

"You put that all together and I think the case for a rate increase for March has come together and I think it's on the table for discussion," he told the broadcaster.

"We're getting very close to our goals and we've been very close," he said.

"I think if we keep sort of on this path we will get (inflation) up to 2.0%."

As of 1630 GMT the yield on the benchmark 10-year US Treasury yield was higher by three basis points to 2.49%, while that on the two-year Treasury was higher by another three basis points to 1.31%.