December 1, 2017 / 11:48 AM / 3 years ago

New York Fed's Dudley sees reasonable case for December rate hike: WSJ

FILE PHOTO: New York Fed President William Dudley takes part in a panel convened to speak about the health of the U.S. economy in New York, U.S. on November 18, 2015. REUTERS/Lucas Jackson/File Photo

(Reuters) - New York Federal Reserve President William Dudley agrees with Fed chair nominee Jerome Powell that there is a reasonable case for an interest rate hike in December, the Wall Street Journal on Friday reported him as saying.

A rate hike in December would be the third by the Fed this year and Dudley said continuing to raise rates along the same path in 2018 would depend on how the U.S. economy performs.

“Let’s imagine that I had three rate increases pencilled in for 2018. I’m not wed to that in any way. We could do more. We could do less,” he told the Wall Street Journal.

He also said if the current U.S. economy conditions were to continue, the Federal Reserve would continue to gradually remove monetary policy accommodation.

Reporting By Aparajita Saxena in Bengaluru; Editing by Savio D'Souza

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