Fed’s George: Trump’s criticism won’t sway the Fed

Kansas City Fed President Esther George, speaking to Bloomberg TV this Thursday, was noted saying that Trump’s rate hike criticism won’t influence the Fed ability to raise interest rates further.

Key quotes:

   •  Favours two more rate hikes this year, 2.5%-3.5% neutral rate reasonable.
   •  Upside and downside risks to outlook appear to be offsetting.
   •  The committee is very focused on the mandate, given by Congress.
   •  Will make decisions that are in the long-run interest of a growing economy.
   •  The more difficult debate is how far Fed will raise rates before pausing.
   •  Expects 3% GDP this year; yield curve a factor in policy.