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13.05.2016 15:47

Kansas City Fed President Esther George: interest rates in the U.S. are too low

Kansas City Fed President Esther George said in a speech on Thursday that interest rates in the U.S. were too low.

"I support a gradual adjustment of short-term interest rates toward a more normal level, but I view the current level as too low for today's economic conditions," she said.

"The economy is at or near full employment and inflation is close to the FOMC's target of 2 percent, yet short-term interest rates remain near historic low," George added.

George is a voting member of the Federal Open Market Committee (FOMC) this year. She voted for an interest rate hike in March and April.

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