US rates 'still simulative' says Fed's Santomero

Philadelphia Federal Reserve President Anthony Santomero said on Saturday 16 October US interest rates remain simulative but as the expansion continues they should return to "more normal levels".

"I believe the current level of interest rates is still stimulative. As the expansion continues, one should expect that the level of short-term interest rates will go back to more normal levels," Santomero told reporters after a speech at a conference of the European Money and Finance Forum in Madrid.