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Fed's Fischer Says Waiting to Raise Helped Offset Dollar Harm

  • Vice Chair says December rate hike call depends on progress
  • U.S. economy is weathering this year's dollar rise well
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Will a Fed Rate Hike Be Positive for Global Stocks?

The Fed’s decision to delay raising interest rates has helped to offset the economic headwinds caused by a strengthening U.S. dollar, Fed Vice Chairman Stanley Fischer said, adding that it “may be appropriate” to raise rates next month.

"While the dollar’s appreciation and foreign weakness have been a sizable shock, the U.S. economy appears to be weathering them reasonably well," Fischer said in prepared remarks at a Fed conference in Washington Thursday. "Monetary policy has played a key role in achieving these outcomes through deferring liftoff relative to what was expected a little over a year ago."