Fischer Says Fed Nearing End of ‘Considerable Time’ Rate Pledge
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Federal Reserve Vice Chairman Stanley Fischer signaled officials are closer to dropping a vow to keep interest rates low for a “considerable time” and will stress economic data to guide the first increase since 2006.
“You saw in the minutes of last meeting there was some discussion of that, and it’s clear we are closer to getting rid of that than we were a few months ago,” he told the Wall Street Journal CEO Council Annual Meeting in Washington today.