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Fed's Fischer Sees Low Unemployment Lifting Wages, Inflation

  • ‘Wages will start going up at some stage,’ he tells Bloomberg
  • Vice chairman is stepping down this month from central bank
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Fed's Fischer Sees Higher Inflation on Low Unemployment

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Federal Reserve Vice Chairman Stanley Fischer, who leaves office this month, continues to expect a tightening U.S. labor market will lift wages and prices even though the process could take longer than anticipated.

“I still believe we will have higher inflation,” Fischer said Wednesday in an interview with Tom Keene on Bloomberg Television. “The basic mechanism here is unemployment is declining all the time, wages will start going up at some stage.”