Economics
Fischer Signals 2016 Rate Hike With Economy Nearing Fed Goals
- Fed vice chair talks days before Yellen’s Jackson Hole address
- Fischer sees economic growth picking up in coming quarters
Is the Economy Ready for a Fed Rate Hike this Year?
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Federal Reserve Vice Chairman Stanley Fischer signaled that a 2016 rate hike is still under consideration, saying the U.S. economy is already close to meeting the central bank’s goals and that growth will gain steam.
“We are close to our targets,” Fischer said in a speech at the Aspen Institute in Aspen, Colorado on Sunday. “Looking ahead, I expect GDP growth to pick up in coming quarters, as investment recovers from a surprisingly weak patch and the drag from past dollar appreciation diminishes,” he added, without giving explicit views on his rate outlook.