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Fed's George wants slow but sure progress on raising rates

Esther George, president and chief executive officer of the Kansas City Federal Reserve Bank.
Andrew Harrer | Bloomberg | Getty Images
Esther George, president and chief executive officer of the Kansas City Federal Reserve Bank.

Kansas City Federal Reserve Bank President Esther George said on Wednesday that she wants to raise interest rates "slowly but surely," but said that doing so does not mean she wants to put the brakes on U.S. economic growth.

Instead, George, who spoke at a forum for minority bankers, said she wants to make sure that the Fed raises rates slowly now so it does not have to raise them quickly later.

George was one of three policymakers who dissented on the Fed's decision last week to leave rates unchanged so as to allow the economy more room to generate jobs and inflation.

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