- Asia Markets Fall After Wall Street's Slide
- Yum Posts Higher Profit on Rising Operations in China
- Alcoa Profit Halves; Firm to Curtail Spending
- Fed View On Economy Grew Darker in September
- Text: FOMC Minutes
- The Duplicitous Sheila Bair
- Bernanke: Rate Cut Possible to Cure 'Historic' Slump
- Pros Ands Cons For A Rate Cut
- Fed's Moves Will Solve 'Bear of a Problem': Stern
- Mad Mail: Does the Gov't Favor Citigroup?
- Lightning Round OT: US Airways, Medco and More
- Your First Move For Wednesday October 8th
- Lightning Round: GameStop, Forward Air, Packaging Corp. and More
- Web Extra: Cash-Rich Tech
- Your Questions About... Short-Selling, RBS
- Where Are The Buying Opportunities?
- Executive Decision: Salesforce.com CEO Marc Benioff
- When Will Tech Bottom?
Fed's Stern: Hike Rates Sooner Rather Than Later
Text Size 
The Federal Reserve can not wait until financial and housing markets stabilize before raising interest rates, Minneapolis Fed President Gary Stern said in an interview with Bloomberg on Friday.
Stern, a voter on the policy-setting Federal Open Market Committee this year, said that "headline inflation is clearly too high,'' and could feed through to core prices.
From 'Fast Money': |
"We're pretty well positioned for the downside risks we might encounter from here ... I worry a little bit more about the prospects for inflation,'' he added.
Copyright 2008 Reuters. Click for restrictions.
Tools:
Print
Email
Del.icio.us
Digg ItMORE FROM CNBC
Data is a real-time snapshot *Data is delayed at least 15 minutes