WASHINGTON (MarketWatch) — New York Fed President William Dudley suggested the central bank may lift interest rates as early as next month. “I think it is quite possible that the conditions the Committee has established to begin to normalize monetary policy could soon be satisfied,” said Dudley, who gets a vote at each Federal Open Market Committee meeting. Dudley included a line that he wasn’t saying his views toward action in December. Domestic demand continues to grow at a solid pace, and the fundamentals supporting domestic growth look sturdy. The international outlook appears less problematic than it did just a few months ago, he added. But he said he had greater concerns on inflation because it continues to fall substantially short of its 2% target and that inflation expectations are under downward pressure. He expects the pace of tightening will be quite gradual once lift-off occurs.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News