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The Fed: Fed’s Dudley says case for interest-rate hike has become ‘a lot more compelling’

Reuters
New York Fed President William Dudley is one of Fed Chairwoman Janet Yellen’s inner-circle members who markets pay close attention to.

The case for an interest-rate hike has become “a lot more compelling,” a crucial Federal Reserve official said in a statement that moved markets.

In an interview with CNN International, New York Fed President William Dudley on Tuesday said that “animal spirits have been unleashed a bit” in the wake of the presidential election, pointing to the rise in the stock market.

“It seems to me that most of the data we’ve seen over the last couple months is very much consistent with the economy continuing to grow at an above-trend pace, job gains remain pretty sturdy, inflation has actually drifted up a little bit as energy prices have increased,” Dudley said.

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