MarketWatch: Federal Reserve officials seem to be leaning towards a December rate hike.
First was the October policy statement, where central bankers removed a key sentence citing global factors and suggested zero interest rate policy could end in December.
Then Fed Chairwoman Janet Yellen said that December was a live policy option if the economic data followed through. And the October jobs report did just that, showing the labor market added 271,000 during the month, well above any Wall Street forecasts.
While the labor market appears to be strengthening, the Fed remains far away from its 2% annual inflation target. Doves on the central bank have said they wanted to see some pickup in inflation or wages to justify a rate hike.
Here’s a roundup of the latest comments from every Fed official. The Fed will meet on Dec. 15-16.
Chairwoman Janet Yellen: Told Congress that the economy was performing well and a rate hike in December was a “live possibility.”
Vice Chairman Stanley Fischer: Said at a speech that inflation isn’t far below the Fed’s 2% target and factors holding down inflation can’t go on forever.
Gov. Lael Brainard: In a speech on Nov. 6, Brainard urged “greater caution than normal” in interest rate policy
Gov. Jerome Powell: Hasn’t spoken about rate policy since August, when he said nothing had been decided raising interest rates
Gov. Daniel Tarullo: Said last month he did not expect conditions to be appropriate to raise interest rates this year.
New York Fed President William Dudley: Told reporters this week that he agreed with Yellen that a rate hike in December is a live possibility but added he wanted to see what the data shows.
Chicago Fed President Charles Evans: In an interview with MNI on Nov. 9, Evans said his preference would still be to delay raising rates until the middle of next year but would go into the December meeting with an open mind.
Richmond Fed President Jeffrey Lacker: Dissented in October in favor of a rate hike because he saw ‘steady growth’
Atlanta Fed President Dennis Lockhart: In a speech this week, Lockhart said a rate hike will soon be appropriate.
San Francisco Fed John Williams: Said last month he backs a rate hike in near future.
St. Louis Fed President James Bullard: A strong advocate of higher rates, Bullard said in a speech and in remarks to reporters after the October jobs report that issues causing the Fed to hold off a rate hike in September were starting to fade. Bullard will be a voter in 2016.
Kansas City Fed President Esther George: Has been pressing for a rate hike. George said in a newspaper interview after the October policy meeting that the economy will continue to grow on trend and the labor market is healing. Will be a voter in 2016.
Cleveland Fed President Loretta Mester: Pushed for a rate hike prior to the October policy meeting. Will be a voter in 2016
Boston Fed President Eric Rosengren: Was upbeat about the outlook and backed a 2015 rate hike in an interview with MarketWatch prior to the October meeting. Will be a voter in 2016.
Minneapolis Fed President Narayana Kocherlakota: Perhaps the most vocal opponent of a rate hike in 2015. In fact, said in early October he would be open to cutting the fed funds rate even further to help the labor market.
Philadelphia Fed President Patrick Harker: Relatively new and has yet to comment on monetary policy
Dallas Fed President Robert Steven Kaplan: Relatively new and has yet to comment on monetary policy