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Waiting too long to raise rates could trigger recession, Fed officials say

Federal Reserve officials meeting with Fed Up, a coalition of community groups, said that if the central bank acts too slowly to raise interest rates, it could cause the economy to overheat and then fall into a recession. “If we do wait too long, this economy will create imbalances or overheat … and when we react to that, that often leads to a recession or some other bad outcome,” said San Francisco Fed President John Williams.

Market News International (8/25),  Financial Times (tiered subscription model) (8/26),  The Wall Street Journal (tiered subscription model) (8/25)