NEW YORK: Two of the Federal Reserve's top policymakers this week staked out an unusually clear case for taking in more data before deciding about another interest-rate hike, driving investors to largely abandon bets on an interest rate increase at the central bank's next policy meeting, in late October.
"There is no need for urgency" on changing the current setting of monetary policy, Federal Reserve Bank of New York President John Williams said on Tuesday at the University at Buffalo. "One further upward adjustment" in the policy rate may be appropriate late this year, said Williams, who is also vice chair of the central bank's rate-setting Federal Open Market Committee.
Federal Reserve Vice Chair Philip Jefferson on Thursday delivered a similar message.
