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Fed's Dudley Says Need for Higher Rates Soon ‘Quite Possible’

  • New York Fed president not ready to pledge December liftoff
  • Some labor-market slack remains and inflation trends worrisome
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Stock Rally Slows, What's Next for Investors?

The Federal Reserve’s policy committee may need to begin raising interest rates for the first time since 2006, though some slack remains in the labor market, Federal Reserve Bank of New York President William C. Dudley said Thursday.

“I think it is quite possible that the conditions the Committee has established to begin to normalize monetary policy could soon be satisfied,” Dudley said in a speech in New York. “I will be evaluating the incoming information to see if it confirms my expectation that growth will be sufficient to further tighten the U.S. labor market.”