The Federal Reserve Agency announced that despite US employment rate being nearly full, they are in no rush to hike interest rates following Brexit.
Jed Bullard, St. Louis FED president, reiterated that only a single raise is required for the upcoming years unless a shift moves the country in a worse condition.
However, some policymakers are hesitant to keep the rates low, as it may not match the economy’s strength. Even Dallas FED president Robert Kaplan, who initially said that he wants to be gradual in increasing the rates, admitted his worry that prolonged low rates may result in distortions.
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