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Fed's Quarles: Fed watching data but will not react to 'every wavering'

Reuters  |  WASHINGTON 

WASHINGTON (Reuters) - Federal Reserve vice chairman Randal Quarles said the Fed's increasing "data dependence" does not mean it will react to every rise or fall in economic statistics or markets, but only to "significant changes in direction."After a week in which markets have swung in their interpretation of where the Fed is heading, Quarles appeared to anchor the Fed's ongoing move towards slow but steady interest rate increases."We should be data dependent but not reacting to every wavering of the needle across the dial...We have described in all the communications tools a path that is ...

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First Published: Mon, December 03 2018. 23:40 IST
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