Federal Reserve ‘very close’ to employment, inflation targets: Fischer

Federal Reserve ‘very close’ to employment, inflation targets: Fischer


The vice chairman of the U.S. Federal Reserve
says the Fed is very close to its employment and inflation targets… deemed the markers
for raising rates. Speaking at the Economic Club of New York
on Monday, Stanley Fischer also suggested that low rates can lead to longer and deeper
recessions, making the economy more vulnerable. Pressure for a rate hike in December is building
with the U.S. core personal consumption expenditure index, the Fed’s primary inflation guide,
hitting one-point-seven percent in August, and the unemployment rate in September recording
five percent,… considered full employment in the U.S. But Fischer added that it’s not a simple decision
for the Fed to raise rates as there are factors beyond its control, like slower overseas growth,
weak investment and an aging population.

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