Search
 

Dudley Sees Gradual Rate Hikes Continuing

Economically speaking, "I think we're still on the same trajectory we've been on for several years,” the New York Fed president told the Associated Press Monday.

By Paul Bubny | paulbubny | Updated on August 15, 2017

Photo of William Dudley New York Fed president William Dudley

NEW YORK CITY—New York Federal Reserve president William Dudley, regarded as one of the most influential members of the Fed’s Board of Governors, said Monday he foresees continued gradual increases in the federal funds rate even as the Fed’s 2% inflation benchmark remains elusive. Dudley made his observations, which also included an endorsement of making another rate increase this year, during an interview with the Associated Press.

“inflation won’t get up to 2% very quickly on a year-over-year basis is because we’ve had these very low inflation readings over the last four or five months,” Dudley told the AP. Yet he added, “I think you’d want to continue to gradually remove monetary policy accommodation, even with inflation somewhat below target.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.