Get On with It: Leading Global Economists Think Fed Should Raise Rates Faster

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Get On with It: Leading Global Economists Think Fed Should Raise Rates Faster

Jan, 27th 2017

The Federal Reserve should lift interest rates steadily, and not be concerned with a strong dollar, according to two experts on the global economy.

“The Fed will tighten three times, they might even tighten four times” and “still be behind the curve,” said Harvard University economics professor Kenneth Rogoff in an interview with MarketWatch.

Raghuram Rajan, the former head of the Reserve Bank of India and now a professor of finance at the University of Chicago’s Booth School of Business, agreed that it makes sense for the Fed to “watch carefully and raise rates when appropriate.”

“If the U.S. slowly starts recognizing that with the economy close to full employment, the normal rules of economics will start playing out again, and, the tighter [the labor market] gets, the higher wages will grow, and you’ll get more inflation,” Rajan said in a separate interview.

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