Fed's George: Raising rates sooner rather than later would curb volatility
Esther Geroge speaking in Houston
- Fed should slowly raise rates and avoid overheating the US economy
- Business investment is likely to boost medium-term growth
- If OPEC doesn't reach a deal then lower oil prices could weigh against economic growth by hindering investment
Some strange comments form George, although we don't know the context. The US economy is far from overheating and oil investment isn't the only game in town. Lower oil prices are far more beneficial to the consumer and manufacturing sectors, who are huge drivers of growth.