Fed's Dudley: Rate hikes' pace tied to markets

April 6, 2015 4:01 PM

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The pace of Federal Reserve interest rate hikes will largely depend on financial markets' response to the increases, New York Federal Reserve president William Dudley said Monday.

"If financial market conditions do not tighten much in response to higher short-term interest rates, we might have to move more quickly," Dudley said in a speech at the New Jersey Performing Arts Center in Newark. "After all, the point of raising short-term interest rates is to exert some restraint ...

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