While global financial markets try to determine if the turmoil resulting from China’s economic weakness is enough to put a potential September Federal Reserve rate hike on hold for the time being, now is a good time to take a careful look at what 11 of the 13 Federal Reserve Bank Presidents have said about raising rates in recent months.
Philadelphia’s Patrick Harker’s stance regarding the possible Fed interest rate hike is currently unknown.
1. Boston Fed President Eric Rosengren, July 9, 2015
“If we do continue to get improvements in labor markets, if we do become reasonably confident that we’re moving back to 2-percent inflation, it may be appropriate as early as September.”
2. New York Fed President William Dudley, June 29, 2015
“If we hit 2.5 percent growth in the second quarter and it looks like the third quarter is shaping up for something similar, then I think you are on a firm enough track that you would imagine you would have made sufficient progress… certainly by the end of the year.”
3. Cleveland Fed President Loretta Mester, May 25, 2015
“If the data comes in according to my forecasts then the time is near where we’re going to be wanting to raise rates.”
4. Richmond Fed President Jeffery Lacker, April 10, 2015
“Unless incoming economic reports diverge substantially from projections, the case for raising rates will remain strong at the June meeting.”
5. Atlanta Fed President Dennis Lockhart, August 10, 2015
“I think the point of ‘liftoff’ is close… The economy has…
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