WASHINGTON (MarketWatch) – Though Federal Reserve officials have not come to any decision on whether to hike rates in September, the case was strong before China’s currency devaluation, Federal Reserve Vice Chairman Stanley Fischer said on Friday. Fischer responded to the comment from William Dudley, the president of the New York Fed, who said that a September rate hike was less compelling, telling CNBC “it is too early to tell…I wouldn’t want to go ahead and decide right now what the case is – more compelling or less compelling etc.” Fischer was upbeat about the economy and said he was confident that inflation would return to 2% in the medium term. Market volatility can effect timing of Fed decisions but things could “settle down fairly quickly,” he said.
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