Where 10 Voting Members of the Fed Stand on the Interest Rate
After much time in limbo, it seems like the Federal Reserve is leaning towards an interest rate hike this December, with their meeting set on Dec. 15-16. (Talk about a great gift for the holidays.)
Although the strengthening labor market has got some officials nodding their head in favor, the distance from the 2% annual inflation target has got some saying nay.
Here's a roundup of the latest comments on a rate hike from Fed officials who are current voters.
1. Chairwoman Janet Yellen
Assured Congress that the economy was doing well, calling a rate hike in December a "live possibility."
2. Vice Chairman Stanley Fischer
Fischer said in a speech that inflation isn't that far below the 2% target, and that holding down inflation can't go on forever.
3. Gov. Lael Brainard
In a speech last week, Brainard urged "greater caution than normal."
4. Gov. Jerome Powell
Powell hasn't said much about rate policy since August. Even then, all he said was that nothing had been decided.
5. Gov. Daniel Tarullo
Last month, Tarullo said he didn't expect conditions to be right for a rate hike this year.
6. New York Fed President William Dudley
Called a December rate hike a live possibility but also wanted to know what the data shows.
7. Chicago Fed President Charles Evans
This past week, Evans said he prefers to delay a rate hike until mid-2016, but will go into the December meeting with an open mind.
8. Richmond Fed President Jeffrey Lacker
Favored a rate hike in October because he saw "steady growth."
9. Atlanta Fed President Dennis Lockhart
In a recent speech, Lockhart said a rate hike will soon be appropriate.
10. San Francisco Fed President John Williams
In October, Williams said he supports a rate hike in the near future. [MW]