The Fed: Fed’s Dudley shows no signs of wavering from support for December interest-rate hike

New York Fed President WIlliam Dudley (right) with Fed Vice Chairman Stanley Fischer and Fed Chairwoman Janet Yellen

New York Fed President William Dudley on Thursday signaled he still supports another interest-rate hike this year, putting him at odds with some of his colleagues at the central bank who have become more cautious in recent weeks because of a string of low inflation readings.

In a speech to the Money Marketeers of New York University, Dudley admitted he was surprised that inflation has stayed low, but said he expects the domestic price level will rise and stabilize around the Fed’s 2% target.

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