Economics
Fed’s Fischer Says Economy May Merit Liftoff Later This Year
- Job market's overall prospects remain good, Fischer says
- Fischer doesn't anticipate global outlook derailing policy
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Federal Reserve Vice Chairman Stanley Fischer said the U.S. economy may be strong enough to merit an interest-rate increase by year end, while cautioning that policy makers are monitoring slower domestic job growth and international developments in deciding the precise timing of liftoff.
At the Federal Open Market Committee’s meeting in September, “most participants, myself included, anticipated that achieving these conditions would entail an initial increase in the federal funds rate later this year,” Fischer said Sunday in Lima, where attended the annual meeting of the International Monetary Fund.