Fed Chair Janet Yellen said on Friday "the case for an increase in the federal funds rate has strengthened in recent months." » Read More
Read Fed Chair Janet Yellen's full speech.
"I think the economy is on a good track," Cleveland Fed President Loretta Mester said, "the employment numbers show that."
But St. Louis Fed President James Bullard wouldn't be firm, saying he would like to raise rates on good economic news.
To push banks to lend for longer periods of time, the Chinese central bank used 14-day reverse repos for the first time since February.
Financial markets are currently riding on wave of speculation over whether the world's central banks will continue to ease policies. But is there a knock-on effect?
Janet Yellen won't want to shock the markets but she will state that at some point the Fed has to begin normalizing rates, says Baring AM's Khiem Do.
REYL Singapore's Daryl Liew says the conditions are right for the Fed to raise rates by 25 basis points by the end of the year.
European stocks seesawed in afternoon trade and closed higher as investors reacted to a speech from Federal Reserve Chair Janet Yellen.
Janet Yellen's speech could offer some guidance, but will likely point back to the Fed's data dependence, says Payden & Rygel's Jim Sarni.
Central banks are losing firepower, which is why fiscal policy needs to start being employed, says Morgan Stanley's Jonathan Garner.
"Fed Up" Campaign's Ruben Lucio says the group wants the Fed to keep rates low and include more advocates from minority communities.
U.S. policymakers are realizing that more quantitative easing and negative interest rates won't work, says Guggenheim Partners CIO Scott Minerd.
The Fed's hesitation on raising rates this year is causing confusion in markets, says O'Neil Securities' Kenneth Polcari.
A rate hike from the Fed could spark an Asian stocks sell-off and trigger capital outflows in China, according to Macquarie IM.
Some Fed members are arguing for the normalization process to begin, while others are citing subdued inflation as a worry, says Dartmouth College's Andrew Levin.
El-Erian made his comments ahead of Fed Chair Janet Yellen's speech, scheduled for Friday morning in Jackson Hole, Wyoming.
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