U.S. Commerce Secretary says Fed should rethink rate increase: Bloomberg TV

U.S. Commerce Secretary says Fed should rethink rate increase: Bloomberg TV

© Reuters. Participants including Commerce Secretary Wilbur Ross and NASA Administrator Jim Bridenstine at a press preview event in Washington

WASHINGTON (Reuters) – U.S. Commerce Secretary Wilbur Ross said in a television interview on Wednesday that the Federal Reserve should reconsider its last rate increase, which he said was premature.

“I think the Fed taking a more cautious attitude on rates and reconsidering, in effect, the last rate increase that they put in, I think that’s good. I think they should reconsider. I think it’s quite likely that that last increase was, at best, premature,” Ross told Bloomberg TV.

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Source : Reuters Link

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