Off The Wire
U.S. Commerce Secretary says Fed should rethink rate increase: Bloomberg TV
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.
Reporting by Makini Brice; Editing by Susan Heavey