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6 months ago
Case for Fed rate hike now a lot more compelling: Dudley
March 1, 2017 / 12:26 AM / 6 months ago

Case for Fed rate hike now a lot more compelling: Dudley

Mexican billionaire Carlos Slim speaks during a news conference in Mexico City, Mexico January 27, 2017.Edgard Garrido

NEW YORK (Reuters) - The case for raising U.S. interest rates has become "a lot more compelling" since the November election given rising confidence and expectations for fiscal stimulus, New York Fed President William Dudley, among the most influential U.S. central bankers, said on Tuesday.

We have seen a "very large" rise in household and business confidence and "very buoyant" financial markets since the election, "and we have the expectation that fiscal policy will probably move in a more stimulative direction," he said on CNN.

"The case for monetary policy tightening has become a lot more compelling," added Dudley, a permanent voter on Fed policy and a close ally of Fed chair Janet Yellen.

Reporting by Jonathan Spicer; Editing by Chizu Nomiyama

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