Economics
Fed's Most Powerful Trio Keep December Rate Rise on the Table
- Fed chair's testimony pushes U.S. Treasury yields higher
- Fischer voices faith in inflation, Dudley says December's live
Why the Fed Didn't Raise Rates in Oct.
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Federal Reserve Chair Janet Yellen and New York Fed President William Dudley both said the central bank could boost interest rates as soon as next month, while Fed Vice Chairman Stanley Fischer voiced confidence that inflation isn’t too far below the central bank’s goal.
“At this point, I see the U.S. economy as performing well,” Yellen on Wednesday in testimony before the House Financial Services Committee in Washington. If economic data continue to point to growth and firmer prices, a December rate hike would be a “live possibility,” she said.