Fed’s Fisher: Rate Raise not Considered until October

The Federal Reserve will likely bring its massive bond-buying program to an end in October, and only after that will it consider when to raise U.S. interest rates, a top Fed official said on Sunday.

“I personally expect us to end that program in October,” Dallas Federal Reserve Bank President Richard Fisher said in an interview on Fox News. “Then we have to see how the economy is doing, including these broader measures of unemployment and where we stand before we can talk about how we might move the short-term rate.”

U.S. unemployment registered 6.3 percent in April, a government report showed on Friday. But broader measures of the strength of the labor market, including the labor participation rate and hourly wages, indicated the jobs market is still far from strong.

CNBC

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