Fed’s George Says Rates Should Rise Amid Labor Market Gains
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Federal Reserve Bank of Kansas City President Esther George said policy makers shouldn’t wait to raise the main interest rate after continued employment gains because it’s “risky” to continue holding rates near zero.
“We would be wise to act modestly but act now,” George, who will vote next year on the policy-setting Federal Open Market Committee, said in remarks prepared for delivery Thursday in Stillwater, Oklahoma. Protracted low rates may spur investors to take too much risk in seeking returns, she said.