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Another Fed Pres Wants to Raise Interest Rates
Posted by: RateAPY Bank Rates News
June 7th, 2010
The first Federal Reserve bank president to openly talk about tightening interest rates was Thomas Hoenig, president of the Federal Reserve Bank of Kansas City. He is a voting member of the FOMC and has been the lone dissenting voter on current monetary policy.
More Fed Presidents Favor Raising Interest Rates
Last month Jeffrey Lacker, president of the Federal Reserve Bank of Richmond, said he was beginning to feel uncomfortable keeping interest rates so low. He is no longer happy with the “extended period” language.
Most recently, Atlanta Fed President Dennis Lockhart also is speaking up in favor of raising interest rates. “As the economy continues to improve and financial markets find firmer ground, extraordinarily low policy rates will not be needed to promote recovery and will become inconsistent with maintaining price stability,” he said.
When the Feds begin to raise interest rates, it will improve the yields you can earn on your checking accounts, savings accounts, money market accounts, and certificates of deposit.
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Posted by: Online Source for the Best Bank Rates & Bank Deals
Posted: June 14, 2010
[...] mentioned in a previous Money News blurb, three Federal Reserve Bank president’s were openly talking about the FOMC beginning to raise [...]