NEW YORK, Nov. 16 (UPI) -- Federal Reserve Gov. Randall Kroszner Friday indicated the Fed is not leaning toward another U.S. interest rate cut despite an expected economic "rough patch."
In remarks prepared for a speech at the Institute of International Finance in New York. Kroszner suggested no interest rate hike is anticipated despite the 1-2 punch of a credit crunch and housing slump, the Wall Street Journal said.
"The current stance of monetary policy should help the economy get through the rough patch during the next year, with growth then likely to return to its longer-run sustainable rate," Kroszner said.
The Federal Open Market Committee lowered the federal funds rate by an aggressive 50 basis points in September and another 25 basis points last month.
