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Fedspeak Reiterates Gradual Path
Fed speakers continue to reiterate that policy remains on a gradual path of tightening. So far, the inflation data and brightening economy has more emboldened their commitment to gradual rate hikes than a faster pace of hikes. What about fiscal policy? That train has left the station, but central bankers don’t seem too concerned – yet. Federal Reserve Governor and Vice Chairman for Supervision Randal Quarles today gave a short speech on the economic outlook and associated policy implications. He praises low unemployment: After peaking at 10 percent in October 2009, the unemployment rate fell rather steadily to ... (full story)