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Bullard Opposes Two More 2017 Hikes, Dudley Says Fed Taking Care
Federal Reserve rate increases are aimed at achieving a soft landing and the U.S. economy will cope “just fine” with gradual policy tightening, said New York Fed President William Dudley. His colleague James Bullard doesn’t share that confidence. “I think it is potentially overkill,” the St. Louis Fed president said Friday, referring to the central bank’s projection for future rate increases. “It’s not necessary to raise rates that quickly if the goal is to keep inflation near target and keep unemployment between 4.5 and 5 percent,” he told reporters in Memphis, Tennessee. The Fed increased rates on ... (full story)