Although the first quarter of the year was “poor,” an economic rebound is already underway in the U.S., according to Federal Reserve Vice Chair Stanley Fischer.
The central banker acknowledged in a Thursday interview that most expect the Fed to raise interest rates sometime this year, but he attempted to assure markets that such a move would be incremental and steady.
Following his comments to CNBC, the bond market turned negative on fears that his expectation of an economic rebound and mild wage increases—for which he said “there are more signs every day”—could mean an interest rate hike sooner rather than later.
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