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Too soon to predict timing of next Fed rate hike: Dudley
September 8, 2017 / 2:38 PM / 17 days ago

Too soon to predict timing of next Fed rate hike: Dudley

FILE PHOTO: William Dudley, President of the New York Federal Reserve Bank, answers a question, after addressing the Indian businessmen at the Bombay Stock Exchange (BSE) in Mumbai, India May 11, 2017. REUTERS/Shailesh Andrade

NEW YORK (Reuters) - It is too soon to predict when the Federal Reserve should next raise U.S. interest rates as it continues to tighten policy, given “cross currents” in the economy and markets, New York Fed President William Dudley said on CNBC TV on Friday.

“It’s too soon to judge exactly the timing of when the next rate hike might occur, but the path is still clear that short term rates are going to move higher,” said Dudley, one of the central bank’s key decision-makers.

He added that above-trend economic growth and “very easy” financial conditions suggest the need to hike, while inflation that has fallen “farther below our target than we anticipated” suggests it is better to wait.

Reporting by Jonathan Spicer; Editing by Chizu Nomiyama

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