Fed's Quarles: Expects more gradual rate-hike path than most Fed colleagues
|Randal Quarles, Federal Reserve board member and Vice Chair for Supervision, delivered some additional comments following his speech at the Economic Club of New York Luncheon, New York, New York.
Key quotes (via Reuters)
- Expects longer-term U.S. Economic growth higher than median Fed forecast.
- Expects more gradual rate-hike path than most Fed colleagues.
- U.S. financial stability risks 'moderate,' no need now to raise countercyclical capital buffer.
- Adding to capital requirements would hamper banks' ability to supply credit.
- 'Not unprecedented' for U.S. President to comment on Fed policy; White House not impinging on independence.
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