"If the economy evolves as most people are hoping over the next year, hopefully we can get to a point where we can raise interest rates in 2015 and I would be delighted if that would be the case"
- William Dudley, New York Fed President
Despite a strengthening U.S. economy and the lowest unemployment rate in six years, Americans' approval rating of President Barack Obama's economic leadership's stands at the lowest level of his presidency, the latest CNBC All-America Economic survey said. 24% of Americans are extremely or quite confident in President Obama's economic policies and goals, compared with 33% in June 2013. 44% of the public say they have no confidence at all in the President on the economy.
Meanwhile, a new Fed's gauge showed that the nation's labour market recovery accelerated a bit last month, as the labour market conditions index increased by 2.5 points following the 2.0 rise in August. The index reflects the acceleration in hiring and decline in the unemployment rate. Amid improving fundamentals in the U.S., speculation on timing of first rate hike is increasing. New York Fed President William Dudley said that if the nation's economy continues to grow as expected over 2015, interest rates could be increased some time next year and it would signal economic success. However, for now an accommodative monetary policy is still needed. At the same time Kansas City Fed President Esther George said inflation indicators remain relatively stable, but the central bank should consider hiking rates if price pressures increases quickly.
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