Fed’s Powell Says Case for Rate Hike Has ‘Clearly Strengthened’
- Says patience ‘paid dividends’; Fed shouldn’t wait too long
- Longer-term challenges to growth require better fiscal policy
Why a December Fed Rate Hike May Not Be a Sure Thing
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Federal Reserve Governor Jerome Powell signaled his readiness to raise interest rates, as unemployment and inflation approach the central bank’s goals.
“The case for an increase in the federal funds rate has clearly strengthened since our previous meeting earlier this month,” Powell said in the text of a speech he is scheduled to deliver Tuesday in Indianapolis. He was referring to the Nov. 1-2 session of the Federal Open Market Committee.