September rate hike looks less compelling, Fed's Dudley says

The case for a rate hike in September is "less compelling" given international developments and volatility in financial markets, said William Dudley, the president of the New York Fed, on Wednesday. In brief remarks followed by questions from the press, Dudley said downside risks have risen given the slowdown in China, the drop in commodity prices, and the market gyrations. He noted that his views could change before the U.S. central bank meets on Sept. 16-17. Dudley said a drop in the stock market must be persistent to impact consumer spending. Dudley is an important voice because he is seen ......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web http://ift.tt/1Ek5ptm
via IFTTT