Fed's Fischer expects 3 rises in interest rates this year

21.04.2017 / 19:07

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Fed Vice Chairman Stanley Fischer believes changes that President Donald Trump is exploring on bank regulations could pose a serious threat to the financial system.

"We seem to have forgotten that we had a financial crisis which was caused by behavior in the banking and other parts of the financial system and it did enormous damage to this economy," Fischer told in an interview.

However, Trump and others have criticized the law for inhibiting the financial activities needed to spark economic growth.

On another issue, Fischer said he believes the Fed still will hike rates three times in 2017, despite recent signs of a slowing economy.

According to him, seasonal factors such as economic and inflation slowdown, will go away as the year progresses.

Source: Bloomberg

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Fed's Fischer expects 3 rises in interest rates this year

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