Prospect of US rate rise recedes as key Fed voter urges caution

New York Fed chief William Dudley says headwinds from sluggish growth and Brexit argue against a renewed increase The prospect of a further rise in US interest rates has receded after one of the Federal Reserve’s most influential policymakers said caution was needed due to lingering risks to the US economy. While New York Fed president William Dudley said it was “premature” to rule out a a rate hike this year, he told a conference in Indionesia that negative shocks were more likely than positive ones due to the fallout from Britain’s vote to leave the European Union, a strong dollar, and because it was safer to delay a move with rates so low. Continue reading...

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