The Federal Reserve will likely raise rates at a faster clip than markets are currently expecting, a top central banker warned Wednesday.
Speaking on CNBC, Federal Reserve Vice Chairman Stanley Fischer said investors who think the Fed will only raise interest rates twice in 2016 are probably mistaken.
The Fed’s dot plot projections for four rate hikes in 2016 are more “in the ballpark,” despite concerns about China, plunging oil prices, weak stocks and geopolitical tensions.
“We don’t know enough now to know how many [rate hikes] there will be,” Fischer said, noting that policy makers will look at different incoming information at each of this year’s eight scheduled Fed meetings.
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