Washington, Feb 18 (AFP/APP): There is no “compelling argument” for the Federal Reserve to raise interest rates next month by a “big” amount, New York Federal Reserve Bank President John Williams said Friday.
Instead, policymakers can “move steadily” to get the benchmark lending rate off zero and back to more normal levels, Williams said, downplaying expectations the Fed could raise interest rates by a half point in March.
“There’s no need to do something extra at the beginning of the process of liftoff,” he told reporters.
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