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Fed's Brainard: Another US rate hike 'likely appropriate soon'

ForexMay 30, 2017 01:50PM ET
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© Reuters. Fed's Brainard: Another U.S. rate hike likely appropriate soon

Investing.com – Federal Reserve Governor Lael Brainard said Tuesday that an interest rate hike is "likely appropriate soon", but warned that slowing inflation could delay future rate hikes.

Brainard, a member of the policymaking Federal Open Market Committee, said continued strength in the labor market and expectations of a rebound in second-quarter GDP growth would warrant an increase in the Fed’s benchmark rate.

“With the labor market continuing to strengthen, and GDP growth expected to rebound in the second quarter, it likely will be appropriate soon to adjust the federal-funds rate,” Brainard told the New York Association for Business Economics.

Brainard warned, however, that the lack of progress on the Fed’s inflation goal is “a source of concern’, and added that the Fed may decide to delay rate hikes should inflation continue to slow.

Brainard’s comments had a muted reaction on markets.

The U.S. dollar index ticked lower to trade at 97.25, down 0.08%.

Gold futures traded at $1263.04, down 0.41% while Treasury yields remained unchanged, with the the U.S. 10-Year at 2.226, down 1.09%.

Fed's Brainard: Another US rate hike 'likely appropriate soon'
 

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Comments (1)
WANDERLUST srt
WANDERLUST srt May 30, 2017 2:19PM ET
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Well if our lazy legislative branch would hurry up and make tax reform instead of bickering maybe there would be faster growth and more inflation.
 
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