Some Fed Members Still Think 2015 Rate Increase Is Best

At its September meeting,the Federal Reserve's Open Market Committee declined to raise interest rates and left a sense of uncertainty over investors.Just after the meeting,three Fed members advocated raising rates this year.
I argued against the decision,St.Louis Federal Reserve Bank President James Bullard said.Holding rates steady yet again seems to have created rather than reduced global macroeconomic uncertainty.*
San Francisco FRB President John Williams and Richmond FRB President Jeffrey Lacker also called for a near term rate hike.*
If 2015 is the year the Fed will raise rates,it will have to be in December,since there is no press conference scheduled for the October meeting,suggested Tony Nash,chief economist and managing partner at Complete Intelligence,who focuses on Asia.
In the US,you have a lot of people checking out of the work force between 30-55 years of age,those peak earning years,which limits the consumer.We do see opportunities in the emerging markets short term;in the longer term,debt issues are more troubling.
If we see a very small rate rise and a very slow pace,the emerging markets will suffer,but the magnitude of the suffering will be very shallow.Among the emerging markets,India has a very weak portfolio of ministers.Prime Minister Narendra Modi is going to have to change it up,if he wants to improve the economy.*
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