Comments from Fed Vice Chair Stanley Fischer in Israel:
- Fed rate decision determined by data not date
- Rate debate is gradual vs late and steep
- Will take years to return to 'normal' level
- 'Reasonable belief' that Eurozone will survive
- There are negative trends in the US budget
Fischer delivered a lecture on "Global Economic Developments" at a university. There was no prepared text but he will take audience questions afterwards.
Last week, I wrote about why think it's absurd that the Fed is so terrified of being wrong and raising rates too soon.
