Wednesday , June 16 2021

A member of the Fed expected to continue with a gradual increase in the rate

One of the most influential members of the Fed on Monday said he estimates that the gradual increase in interest rates will continue next month's meeting in order to continue the economic expansion of the United States.

"What we will do during the next meeting of the monetary policy of FOMC (an acronym in English at the Federal Open Market Committee) (…) will find a gradual path of monetary policy towards the normal level of interest rates," the president said at the Bank of New York Fed, John Williams, quoted by Reuters.

"The prices are still very low, we have raised them, but they are still at a very low level," the official said. "We want to keep this extension as long as possible," he added.

At the last meeting, the US Central Bank decided to keep rates at the current levels, but left the door open for further increases, which could happen on December 18 and 19, when a new meeting would take place.

Markets are warned about Fed's omissions around interest rates and pay attention to US relevance data.

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