Dallas Federal Reserve Bank President Robert McTeer said he stands by the Fed's statement that it "can afford to be patient" in determining whether to raise interest rates to keep inflation in check. In an interview with cable financial news channel CNBC, McTeer said a slow jobs market and gains in productivity have so far prevented an inflation flare-up, but he did not rule out a rate hike in the future, noting that the March labor report saw 308,000 new jobs created. Click here to watch a video from the McTeer interview.

Full Story:

Related Summaries