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The Wall Street Journal: Don’t rule out interest-rate hike this year, Fed’s Dudley says

Federal Reserve Bank of New York President William Dudley argued for continued caution over the path of U.S. interest rates, given uncertainty over the global outlook, but warned that traders who have been ruling out an interest-rate increase later this year are growing too complacent.

In remarks prepared for a joint central-bank seminar in Bali between the New York Fed and Bank Indonesia, Dudley also laid out a defense of the Fed’s communications to Wall Street amid recent criticism that they have left traders increasingly out of step with the central bank.

In recent months, Fed officials have signaled potential interest rate increases are possible this year, but not all traders have been convinced the central bank will act.

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