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IMF again warns Fed to hold off on rate hikes
Citing risks of market volatility and financial instability, the International Monetary Fund again implored U.S. central bankers to hold off on interest rate hikes until next year. In its latest update on U.S. economic health, the IMF said barring any upside surprises to U.S. growth or inflation, the Federal Reserve should leave its benchmark short-term borrowing rate at its current pegged rate of 0% to 0.25%. The warning comes a day ahead of Wednesday’s release of the minutes of the Fed’s June 16-17 meeting. It is not the first time this year that the IMF has issued such a warning. “The U.S. Federal ... (full story)