NEW YORK – Strong U.S. economic growth and restrained inflation mean there is no argument for a rate hike or cut right now, though business confidence is fragile, a Federal Reserve policymaker said on Wednesday.
“There’s not a strong case to push rates higher when inflation is under control; there’s not a strong case to move lower when growth remains healthy,” Federal Reserve Bank of Richmond President Thomas Barkin said in remarks prepared for delivery before the New York Association of Business Economists in Manhattan.
Fed - Rates - Hold - % - Level
The Fed has kept rates on hold at their current 2.25-2.50% level this year, spooked by a slide in markets and questions about the sustainability of economic growth in light of issues including the U.S.-China trade conflict, which has hurt many businesses’ optimism about the future.
Inflation has been short of the Fed’s 2% goal, leaving the U.S. central bank in no hurry to hike rates....
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