“I continue to support lift-off toward the middle of this year” – Fed’s George

FXStreet (Mumbai) - The Federal Reserve (Fed) should not shift its focus on either side of its dual mandate, but rather take a balanced approach, which means benchmark rates should rise this summer, Esther George, the President of the Kansas City Fed said on Wednesday.

Key Quotes:

"I continue to support lift-off toward the middle of this year due to improvement in the labor market, expectations of firmer inflation, and the balance of risks over the medium and longer run,"

"Waiting until economic conditions are nearly back to normal before raising rates may put policy behind the curve and require rates to rise rapidly in the future."