Fed Close to Hitting Job and Inflation Targets: Fischer

The Federal Reserve is close to hitting its targets for full employment and 2 percent inflation, the Fed’s No. 2 policymaker said on Sunday in comments that did not address when the U.S. central bank should next raise interest rates.

The Fed has been suggesting it could raise rates in 2016 since it tightened policy in December for the first time in nearly a decade, but investors have doubts the central bank will follow through on that guidance.

Fed Vice Chairman Stanley Fischer gave a generally upbeat assessment of the economy’s current strength, saying the job market was close to full strength and still improving.

“We are close to our targets,” Fischer said in prepared remarks for a conference in Aspen, Colorado.

Reuters

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.