US Federal Reserve will probably raise rates later in 2015
The Federal Reserve would “probably” raise interest rates later in 2015, a top US monetary policymaker said on Monday.
Speaking at an event in New York hosted by The Wall Street Journal the president of the New York Fed, William Dudley, said, "I think that the economy is doing pretty well," although his expectation was for growth in the second half to be “a little bit weaker” than in the first half.
Nonetheless, it was not his intention to give "calendar guidance. It depends on the data. That’s based on my view of how the economy is likely to evolve.”
"My expectation is that we probably will raise interest rates later this year.”
He also saw scant evidence of financial instability in the economy, according to CNBC.
The October 27-28 FOMC policy meeting would be a "live" one in terms of the potential for a rate hike, Dudley added.
Commenting on Yellen's verbal stumble during a speech delivered on 24 September, which led to some market chatter regarding her health, the central banker said she was "fine".