Fed Vice Chair Fischer: Reiterates viewpoint rate path depends on economic progress
Comments on Monetary Policy:
- I don't think you can say one and done (regarding rate hikes)
- Can't say what sequence of rate rises will be
- Reiterates view that Fed is not planning to go on negative rates
Comments on Economy:
- Economy close to full employment
- Productivity is very slow at the moment; expect it to change at some time
- US is sensitive to what's going on around the world
- USD currency is not most fundamental factor in productivity
- US is nearing full employment despite the stronger USD
Comments on Global Economy:
- Negative rates seem to work
- Negative rates are very difficult for savers