Fed rate increases appropriate says Poole

A top Federal Reserve officials said on Wednesday the Fed was correct to raise interest rates gradually because recent indications of an economic soft spot are misguided.

"The FOMC (Federal Open Market Committee) has emphasized that it is prepared, if necessary, to move more aggressively to protect the relatively low rate of core inflation that now exists," St Louis Federal Reserve President William Poole said in remarks on Wednesday in St. Louis.

Poole, who is not a voting member of the FOMC this

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