The U.S. economy is “in a good spot” and the Federal Reserve should continue raising interest rates, president of the Fed’s Kansas City regional bank Esther George said Tuesday.
In her annual address to the Central Exchange in Kansas City, George pointed out the current boost to consumer spending stemming from low gasoline prices, which she says is a sign of wage growth and increasing employment. She also noted increased stock market volatility but said Fed policy “cannot respond to every blip in financial markets.”
In December, the Federal Reserve increased rates for the first time since 2006, which George supported as a voting member on monetary policy decisions.
Read more: Kansas City Star