Kansas City Fed President Esther George said Thursday she favors continued gradual interest-rate hikes, but said the timing and extent of further actions is still under discussion. “The path of policy cannot be on a pre-set course at this stage of the expansion,” George said, in a speech prepared for delivery to the Economic Forum in Tulsa, Okla. George said the risks to the economy are currently balanced. On the upside, fiscal policy and elevated consumer confidence could lead to higher growth and inflation. On the downside, trade uncertainty and growing risks in emerging market economies could slow down U.S. growth. George will be a voting member of the Fed’s interest-rate committee in 2019.
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