Officials reinforce Fed's gradual policy-tightening plan
New York Federal Reserve President and CEO William Dudley says he and his Fed colleagues anticipate U.S. inflation to rise gradually over the next several months as the labor market is expected to continue heating up. These trends, Dudley says, support the Fed’s near-term policy tightening. In the New York Fed's August 10, 2017 Regional Economic Press Briefing, Dudley called on the United States to better address factors driving racial inequality of employment and income, and he also suggested the Fed was planning to raise interest rates once more and begin reducing some bond holdings this year.