Fed's Fischer signals 2016 US rate hike as economy nears Fed goals

Fischer’s remarks come less than a week before a speech by Fed chair Janet Yellen

22nd August, 2016
The US Federal Reserve

Federal Reserve Vice Chairman Stanley Fischer signalled that a 2016 rate hike is still under consideration, saying the US economy is already close to meeting the central bank’s goals and that growth will gain steam.

“We are close to our targets,” Fischer said in a speech at the Aspen Institute in Aspen, Colorado on Sunday. “Looking ahead, I expect GDP growth to pick up in coming quarters, as investment recovers from a surprisingly weak...

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