Kohn says Fed likely to keep upping rates

The Federal Reserve is likely to keep raising interest rates at a gradual pace, according to a senior Fed official.

Donald Kohn, who is a member of the Fed's board of governors, said the central bank had begun lifting rates almost a year ago as the US economic expansion gathered strength and the potential for inflation increased.

"We have not yet finished this task," he said in a video conference broadcast to an Australian Business Economists function in Sydney.

"The federal funds rate appears s

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