September hike possible, markets too complacent: Fed
But New York Fed chief still strikes a cautious tone on the pace and ultimate amount of tightening
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New York
THE Federal Reserve could potentially raise interest rates as soon as next month, New York Fed president William Dudley said, warning investors that they are underestimating the likelihood of increases in borrowing costs.
"We're edging closer towards the point in time where it will be appropriate, I think, to raise interest rates further," Mr Dudley, who serves as vice-chairman of the rate-setting Federal Open Market Committee (FOMC), said on Tuesday on Fox Business Network. Asked whether the FOMC could vote to raise the benchmark rate at its next meeting on Sept 20-21, Mr Dudley said: "I think it's possible."
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