December Rate Hike on Track as ‘Nerdy’ Fed Avoids Politics
- Bullard, Williams stress Fed political independence post-Trump
- Fed is “incredibly nerdy, incredibly geeky,” and apolitical
TIAA's Nick: Fed May Be More Likely to Raise Rates Now
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Federal Reserve policy makers are a bunch of “incredibly nerdy” technocrats who never discuss politics in their meetings, according to a senior official, while his colleague said the election of Donald Trump as U.S. president shouldn’t delay an interest-rate increase next month.
“I am not seeing enough volatility here to change my basic projection for the economy,” said Federal Reserve Bank of St. Louis President James Bullard on Thursday. “We are basically on track, the same way we were before the election,” he said in St. Louis. “Our view has called for a single rate increase and I think December would be a reasonable time to implement that increase.”