Fed’s Fischer: Zero interest rates are not normal and operating with them is not normal.
Fed’s Fischer says that the #Fed Board’s inability to meet as a group, informally and without taking minutes, was a big surprise to him
The key thing about Dudley speech isn’t what he said about oil but what he said about how market reax will affect pace of #Fed rate hikes
NEW YORK/SAN FRANCISCO (Reuters) – With the U.S. economy humming along at its fastest clip in more than a decade, the Federal Reserve should be confident about its ability to weather a global slowdown and start lifting interest rates around the middle of next year.
But then there is inflation.
Interviews with Fed officials and those familiar with its thinking show the mood inside is more somber than the central bank’s reassuring statements and evidence of robust economic health would suggest. The reason is the central bank’s failure to nudge price growth up to its 2 percent target and, more importantly, signs that investors and consumers are losing faith it can get there any time soon.