Fed's Dudley Pushes Policy Guidance Change At March FOMC: Report

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March 07, 2014 AT 5:04 AM
William Dudley, the head of the Federal Reserve Bank of New York, said a policy meeting later this month is a good time for the U.S. central bank to adjust its published guidance on when interest rates would eventually rise, according to a published report. The Fed, which has held rates near zero since late 2008, has said it would not consider a rate rise until well after the U.S. unemployment rate falls below a threshold of 6.5 percent, as long as inflation remains below 2.5 percent.