Rate debate: Fed officals split on timing of increase

This week saw two governors of the central bank publicly put distance between themselves and Fed Chair Janet YellenA rare public split over monetary policy has thrown into question the Federal Reserve’s plans to raise interest rates soon and left economic leaders and markets worldwide on edge. This week saw two governors of the central bank publicly put distance between themselves and Fed Chair Janet Yellen, who has repeatedly said she expects the first increase in the federal funds rate in nine years to come before the end of 2015. Daniel Tarullo, a Fed governor rarely given to public comment on the rate issue, said in a television interview on CNBC that he “wouldn’t expect it would be appropriate to raise rates” before 2016.

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