Market performance on both tablet and paper
Markets

Fed's Fischer says September meeting on rate hike was "close call"

Investing.com -

Investing.com - Federal Reserve Vice Chair Stanley Fischer said Sunday the September meeting was a "close call" on whether to hike interest rates as monetary policy is only modestly accommodative right now.

"Our decision was a close call, and leaving the target range for the federal funds rate unchanged did not reflect a lack of confidence in the economy," Fischer said in a speech prepared for the Group of 30 annual international banking seminar take place in conjunction with the IMF annual meeting.

"Conditions in the labor market are strengthening, and we expect that to continue," Fischer said of the U.S. economy. "And while inflation remains low, we expect it to rise to our 2% objective over time."

But "since monetary policy is only modestly accommodative," he added, "there appears little risk of falling behind the curve in the near future, and gradual increases in the federal funds rate will likely be sufficient to get monetary policy to a neutral stance over the next few years."

Investing.com offers an extensive set of professional tools for the financial markets.

Read more News on Investing.com and download the new Investing.com apps for Android and iOS! http://glocdn.investing.com/news/LYNXMPEB4O0L0_M.jpg

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ForEx