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When will the time be ripe to raise rates?

The best-case scenario for Fed policymakers will be unemployment rate falling under 4.9 per cent in a few months and inflation consequently rising close to 2 per cent

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It would certainly be an exaggeration to suggest that the decision reached by Fed officials at their latest meeting to hold interest rates at historic lows came as a bombshell for the financial markets or observers.

IT IS true that quite a few observers on Wall Street and in Washington had predicted that the US Federal Reserve would raise short-term interest rates after concluding the two-day meeting of the Federal Open Market Committee (FOMC) last week.

After all, it goes without saying that the...

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