Fed’s vice chairman Stanley Fischer said he expects US economic growth to pick up in the future.
We are close to our targets,” Mr Fischer said. “Looking ahead, I expect GDP growth to pick up in coming quarters, as investment recovers from a surprisingly weak patch and the drag from past dollar appreciation diminishes,” he added.
However, the official gave no views on exchange rate outlook. He also called for more effective fiscal and regulatory policies to help boost the country’s productivity.
Meanwhile, the US central bank is puzzling over the question of how fast it should raise rates. The US economy has shown modest growth, a rise in new jobs, and a slight increase in inflation. The central bank raised interest rates from near zero in December last year, its first monetary policy tightening over the past 7 years.
