Arab Today, arab today rate hike possible 2015 if data meets forecasts
Last Updated : GMT 18:01:58
Arab Today, arab today
Arab Today, arab today

Federal Reserve President William Dudley:

Rate hike possible 2015 if data meets forecasts

Arab Today, arab today

Arab Today, arab today Rate hike possible 2015 if data meets forecasts

William Dudley, president and CEO of the Federal Reserve Bank of New York
Washington - Arab Today

New York Federal Reserve President William Dudley said Thursday that an interest rate increase by the central bank remained possible this year if economic data stayed "in line" with forecasts.

But Dudley, vice chairman of the Federal Open Market Committee (FOMC), the Fed policy board, said recent signs suggested the economy is slowing.

Gently dipping into an open debate among Fed officials over whether the economy is ready for the first rate hike in over nine years, Dudley held off from any direct predictions, noting in a talk at the Brookings Institution that "there's a lot of data between now and the end of the year."

"There is some news that suggests that the economy is slowing down," he said, pointing to sluggish retail sales and the dampening effect on trade of the strong dollar.

Asked whether a long-predicted increase in the near-zero benchmark federal funds rate could happen by year-end, he was cautious, stressing any decision is dependent on the data.

But he added that if the economy moves "in line" with what the Fed forecasts, he would favor a hike.

"What is not clear is how the economy is going to perform," he said.

Fed Chair Janet Yellen has repeatedly said this year that an increase in the interest rate, near zero since 2008, was likely by year-end. She repeated the prediction on September 24, while as usual stressing that the move would be "data-dependent."

The Fed funds rate level has a huge impact on global interest rates and speculation on an increase has spurred months of greater volatility in markets worldwide.

But since Yellen last spoke, US economic data has come in weaker than expected, especially the numbers on the September jobs market released on October 2.

Key indicators for Fed monetary policy -- inflation, job creation, and wages -- all have been weaker than expected. And the strong dollar has hit US exports, another drag on economic growth.

Earlier this week two other FOMC members, Lael Brainard and Daniel Tarullo, said they preferred to wait until 2016 to take the step.

And Fed Vice Chair Stanley Fischer said last week that, while in September he had assumed the economy would stay strong enough for a rate hike this year, there were some weak signs that require monitoring.

"Considerable uncertainties also surround the outlook for economic activity," he said.

The FOMC has two more meetings scheduled this year: October 27-28 and December 15-16.

Source: AFP

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today rate hike possible 2015 if data meets forecasts Arab Today, arab today rate hike possible 2015 if data meets forecasts

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 13:17 2017 Wednesday ,15 February

Yemeni accuses militias of challenging oil

GMT 09:12 2017 Saturday ,11 February

Algorithms: the managers of our digital lives

GMT 09:07 2017 Saturday ,11 February

The biggest players today on Wall Street? Algorithms

GMT 08:15 2017 Saturday ,11 February

Tesla chief in public feud with auto workers union

GMT 06:23 2017 Thursday ,09 February

Oil market can cope with higher shale output

GMT 14:10 2017 Friday ,03 February

Reasons of growth rate conflicting numbers

GMT 21:05 2017 Tuesday ,31 January

Drought caused decline in Morocco
View News in Arabic - Business: حوارات وتقارير
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday