Economics
Dudley Ties 2015 Liftoff to Outlook as U.S. Economy Softens
- Says his rate rise call based on his forecast staying on track
- Dudley: `Recent economic news suggests the economy is slowing'
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The U.S. central bank should still raise interest rates this year so long as the economy stays on track, Federal Reserve Bank of New York President William C. Dudley said, cautioning that recent data signal growth may be slowing.
“If the economy performs in line with my forecast, I would favor lifting off later this year. But it’s a forecast. It’s not a commitment,” Dudley an audience in Washington Thursday, repeating an argument that he used on Friday and noting that “sometimes the forecasts are right, and sometimes the forecasts are wrong.”