While you were sleeping: Fischer’s rate warning

Mon, 17 Oct 2016

By Margreet Dietz Oct. 18 (BusinessDesk) - The US dollar fell, while Wall Street slid with the price of oil, as investors tried to gauge the timing of a Federal Reserve interest rate increase. Fed Vice Chair Stanley Fischer warned that low interest rates may threaten financial stability but said "it is not that simple" to raise rates. A New York Fed report showed its Empire State index unexpectedly fell, declining to a reading of minus 6.8 this month, the lowest since May and down from a minus 2 reading in September. “People are tr...

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