WASHINGTON (MarketWatch) — Federal Reserve Gov. Daniel Tarullo said he doesn’t expect conditions to be appropriate to raise interest rates this year, in the second departure on the Fed’s Board of Governors from the stance of Fed Chairwoman Janet Yellen and Fed Vice Chairman Stanley Fischer this week. In an interview with CNBC, Tarullo said it would be better to look for tangible signs of rising inflation and improving wages, than to rely on historical relationships like the Phillips Curve that link declining unemployment to future rises in inflation.
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