Fed Won't Consider Rate Rise Until October
Jim Stem/Bloomberg via Getty Images Federal Reserve Bank of Dallas President Richard Fisher
By Ann Saphir

DALLAS -- The Federal Reserve will likely bring its massive bond-buying program to an end in October, and only after that will it consider when to raise U.S. interest rates, a top Fed official said Sunday.

"I personally expect us to end that program in October," Dallas Federal Reserve Bank President Richard Fisher said in an interview on Fox News. "Then we have to see how the economy is doing, including these broader measures of unemployment and where we stand before we can talk about how we might move the short-term rate."

U.S. unemployment registered 6.3 percent in April, a government report showed Friday. But broader measures of the strength of the labor market, including the labor participation rate and hourly wages, indicated the job market is still far from strong.

More workers are dropping out of the labor force, data showed, suggesting that many saw job prospects too poor to merit a job hunt. Average hourly wages last month didn't grow at all.

"It's too early to tell," Fisher said of when the economy will be ready for higher rates. "I'll make this prediction: some time in the next 100 years, interest rates will go up."

The Fed has kept short-term U.S. interest rates near zero since December 2008 and has bought trillions of dollars in long-term securities to help boost the economy and bring down unemployment.

Five months ago, with unemployment down sharply from its recession-era high around 10 percent, the Fed began cutting back on its monthly bond-buying stimulus.

Last week it continued that process, trimming its monthly purchases to $45 billion.

At the same time, the Fed has said it will keep rates near zero for a "considerable time" after it ends its bond-buying program so that it can assess the strength of the economy.

Fisher, who votes on Fed policy this year, has long wanted to end the bond-buying program and has warned that keeping rates too low for too long could feed unseen financial market bubbles.


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d.barack

Damn, no life Jimmuh was here for at least 10 hours. WHAT A LOOOOZZZAAA !!

May 06 2014 at 3:47 AM Report abuse -4 rate up rate down Reply
1 reply to d.barack's comment
republicanslostagain

Hypocrisy is the best thing d.barack has going for him. Must be a Republican.

May 06 2014 at 5:10 AM Report abuse +1 rate up rate down Reply
irq.hide777

Leroy said he's gonna pay for my new car. How cool is that?

May 05 2014 at 8:56 PM Report abuse -1 rate up rate down Reply
republicanslostagain

Meet the uneducated hillbilly welfare shlthead, merrica.inda.crapper. He's the one with missing teeth and collects food stamps. Why do poor people in Mississippi vote conservative ?

http://www.youtube.com/watch?v=7PJ6IQT_OKM

May 05 2014 at 8:20 PM Report abuse rate up rate down Reply
2 replies to republicanslostagain's comment
Leroy Gd

Harsh words coming from a brainless numb nut lefty liberal who voted for our socialist community agitator twice.

May 05 2014 at 8:51 PM Report abuse -1 rate up rate down Reply
2 replies to Leroy Gd's comment
dopey.obamite

In each election.

May 05 2014 at 9:16 PM Report abuse -1 rate up rate down
republicanslostagain

Go now hillbilly welfare shlthead and brush and floss your tooth before it falls out. That crack pot conservative merrica.inda.crapper must be one of Rush Limppig's favorite low information voters.

May 06 2014 at 5:06 AM Report abuse +2 rate up rate down
d.barack

Still can't beat PEGGY JOSEPH'S YouTube clip.
I'll bet she's related to you Evan Barthold.

May 06 2014 at 3:04 AM Report abuse -4 rate up rate down Reply
robtucan

Until when, this Clueless President is gone in 2 years. Then America can come back to greatness and we can get jobs that pay and NOT worry about minimum wages.

May 05 2014 at 7:46 PM Report abuse -4 rate up rate down Reply
1 reply to robtucan's comment
Leroy Gd

That is if the numb nut lefty liberals don't vote for another know nothing fool like the last clown they elected.

May 05 2014 at 8:45 PM Report abuse -1 rate up rate down Reply
irq.hide777

I guess if I was an uneducated, old, conservative, just barely making ends meet, I might be upset and miserable too.

Thankfully I'm educated, liberal, and affluent. Life's good kids. For me at least.

Now, I have to leave you. Are you going to be ok whining without adult supervision?

May 05 2014 at 7:36 PM Report abuse -4 rate up rate down Reply
3 replies to irq.hide777's comment
irq.hide777

To read my posts, you would probably think there wasn't anything I liked about conservatives. Well that just isn't true. In fact there are two things I LOVE about you guys. 1) Most of you are quite OLD. 2) ALL of you are mortal.

May 05 2014 at 7:24 PM Report abuse -2 rate up rate down Reply
1 reply to irq.hide777's comment
Leroy Gd

Maybe you can add another thing to that list numb nuts, we help pay the way for your parasite comrades.

May 05 2014 at 8:48 PM Report abuse rate up rate down Reply
5 replies to Leroy Gd's comment
awisec

DON'T BUY BANK OWNED PROPERTIES AND SHORT SALES HOMEOWNERS ARE FORCED TO SELL. REMEMBER, THESE HOMEOWNERS ARE EITHER YOUR PARENTS,BROTHERS,SISTERS AND FRIENDS THAT THE BIG BAD BANKS ARE KILLING!!!

May 05 2014 at 7:09 PM Report abuse -1 rate up rate down Reply
awisec

Boycott the BIG BAD BANKS... Close all your accounts including all your credit cards. We need to put them out of business!!

May 05 2014 at 7:06 PM Report abuse -3 rate up rate down Reply
awisec

My car stays in the drive way all the time now unless I have to go the market,pick of my kid from school or MAYBE A JOB INTERVIEW (what is that..lol)???

May 05 2014 at 7:04 PM Report abuse -1 rate up rate down Reply
irq.hide777

I'm going to run down to the supermarket. Can I pick up anything for you conservatives? A CLUE, perhaps?

May 05 2014 at 6:38 PM Report abuse rate up rate down Reply
1 reply to irq.hide777's comment
irq.hide777

Tim, if you think 2016 is going to be good for you, your are more delusional than I thought. Didn't you get the memo? You guys DON'T do well when people turn out in large numbers to vote.

May 05 2014 at 7:06 PM Report abuse -3 rate up rate down Reply
2 replies to irq.hide777's comment
dopey.obamite

Repubs don't do well when they run weak candidates.

May 05 2014 at 8:43 PM Report abuse rate up rate down
d.barack

Irrqy, Billionaires buy capitol hill, who ever corrals the most billionaires wins, dunce !

May 06 2014 at 3:19 AM Report abuse rate up rate down