U.S. Federal Reserve policymakers are not as divided as it may appear and are generally operating under the same framework for determining when to raise interest rates, New York Fed President William Dudley said on Thursday.
Many Fed watchers are exasperated by the mixed messages from the U.S. central bank in recent weeks. Fed Chair Janet Yellen and other officials have said they expect a rate hike by the end of this year, but two Fed governors this week urged caution.
Dudley, who repeated his view that a rate hike was likely by year’s end, acknowledged the Fed hasn’t communicated well, but he downplayed the differences that existed among officials there.
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