President of the Federal Reserve Bank of New York William Dudley made a speech. The most important of his comments was a statement about the high probability of a decision to raise the rate at the September meeting of the Open Market Operations Committee. Last week, Dudley focused twice on this issue. He is confident that the U.S. economy will complete the second half of 2016 with a higher growth rate, which could reach two percent. Dudley is optimistic about the future of the country’s labour market. He thinks there’s every reason for that. Recently, there have been signs of some growth in American wages, which is also a good sign.
Dudley’s opinion coincides with the assessment of the prospects for another representative of the Federal Reserve – the head of the Federal Reserve of San Francisco, John Williams. He also believes that an increase in the rate at the 20-21 September meeting will be timely. Moreover, a new delay in making this decision could have negative consequences for the U.S. economy, warns Williams.