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Waiting too long heightens risk - Dudley

Friday, November 13, 2015 - 01:05

New York Fed President William Dudley says the Fed could begin to normalize monetary policy soon. Bobbi Rebell reports.

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New York Fed President Bill Dudley said conditions are ripe for a rate hike and that waiting too long for inflation to rise would raise the risk of a hard landing. The comments reinforced the expectation the U.S. central bank will move to tighten monetary policy at its December meeting. SOUNDBITE: WILLIAM DUDLEY, NEW YORK FEDERAL RESERVE BANK PRESIDENT (ENGLISH) SAYING: "I think, it is quite possible that the conditions that the Committee has established to begin to normalize monetary policy could soon be satisfied. In particular, I'll be evaluating information to see if it confirms my expectations that growth will be sufficient to further tighten the U.S. labor market." During his remarks at the Economic Club of New York, Dudley added he expects a gradual pace of tightening after the first increase. And he said the international economic outlook appears to be less problematic than a few months ago. Ross Gerber heads Gerber Kawasaki: SOUNDBITE: ROSS GERBER, PRESIDENT AND CEO, GERBER KAWASAKI (ENGLISH) SAYING: "I think what he's saying is correct . I think the Fed knows what to do. They are looking at data as it comes out." Dudley was asked about the upcoming presidential election, and said he was not eyeing the political season in terms of the timing of policy.

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Waiting too long heightens risk - Dudley

Friday, November 13, 2015 - 01:05