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OECD Issues Warning to Fed on Pace of Future Rate Increases

  • Fed should raise rate this week to reduce uncertainty
  • OECD trims global growth outlook on emerging markets

The Organisation for Economic Cooperation and Development said the Federal Reserve would be right to begin raising interest rates this week while warning that uncertainty about the path of tightening poses a greater threat to the economy.

Fed policy makers led by Chair Janet Yellen begin their two-day meeting on Wednesday with economists divided over whether the gathering will conclude with the first U.S. rate increase in almost a decade.