Broaddus:Um dos masters do FED falou à pouco sobre taxas...
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Broaddus:Um dos masters do FED falou à pouco sobre taxas...
9:57am 04/16/04 BROADDUS: 'WAIT AT LEAST A LITTLE LONGER' ON OUTLOOK
9:56am 04/16/04 BROADDUS: STILL LIMITED DATA ON ECONOMIC STRENGTH
9:55am 04/16/04 BROADDUS: FED MUST CONFIRM STRENGTH BEFORE RATE HIKE
Broaddus says Fed to look for confirmation on economy
WASHINGTON (CBS.MW) -- Richmond Federal Reserve Bank president J. Alfred Broaddus said that more confirmation that the U.S. economy is on a strong growth path is needed before the central bank should consider hiking interest rates.
"I think there is a period when we want confirmation," Broaddus told reporters after a speech in Cambridge, Md.
He said there was "still a limited amount of information" that suggests the economy is strong and that inflation may be bottoming out.
The Federal Reserve can "wait at least a little longer before we make judgments," he said.
Broaddus also said he would focus closely on upcoming inflation data to see if there is any "inflation upcreep."
Earlier, Broaddus said in his address that the U.S. economy is "still some distance" from experiencing an upturn in inflation.
9:56am 04/16/04 BROADDUS: STILL LIMITED DATA ON ECONOMIC STRENGTH
9:55am 04/16/04 BROADDUS: FED MUST CONFIRM STRENGTH BEFORE RATE HIKE
Broaddus says Fed to look for confirmation on economy
WASHINGTON (CBS.MW) -- Richmond Federal Reserve Bank president J. Alfred Broaddus said that more confirmation that the U.S. economy is on a strong growth path is needed before the central bank should consider hiking interest rates.
"I think there is a period when we want confirmation," Broaddus told reporters after a speech in Cambridge, Md.
He said there was "still a limited amount of information" that suggests the economy is strong and that inflation may be bottoming out.
The Federal Reserve can "wait at least a little longer before we make judgments," he said.
Broaddus also said he would focus closely on upcoming inflation data to see if there is any "inflation upcreep."
Earlier, Broaddus said in his address that the U.S. economy is "still some distance" from experiencing an upturn in inflation.
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