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Fed Official Says Rate Hike Is On

President of one Federal Reserve Bank sees interest rate increase in December as likely, despite uncertainty caused by the presidential election.

By Steve Matthews, Bloomberg | Updated on November 10, 2016

Federal Reserve policy makers are a bunch of “incredibly nerdy” technocrats who never discuss politics in their meetings, according to a senior official, while his colleague said the election of Donald Trump as U.S. president shouldn’t delay an interest-rate increase next month.

“I am not seeing enough volatility here to change my basic projection for the economy,” said Federal Reserve Bank of St. Louis President James Bullard on Thursday. “I think we are basically on track, the same way we were before the election,” he said in St. Louis. “Our view has called for a single rate increase and I think December would be a reasonable time to implement that increase.”

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