Fed's George: Q2 GDP looks like it's coming back

Author: Adam Button | Category: Central Banks

Comments from Fed's Esther George:

  • Q1 growth was sluggish
  • US economic has proven to be fairly resilient
  • June jobs report welcome news
  • Business investment has been relatively weak
  • Investment holding up outside of manufacturing and energy
  • Strong dollar and weaker global growth can hurt exports
  • Pace of jobs growth has been particularly noteworthy
  • US is close to full employment
  • Rates are too low given progress in economy
  • Supports raising rates gradually
  • Suspects Brexit issues will be longer term matters for policy decisions

George is a major hawk but she dropped her dissent in favor of higher rates at the latest meeting.

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