Fed official calls for raise in interest rates

LONDON: Dallas Federal Reserve President, Robert Kaplan,  pledged to push for gradual increases in the U.S. interest rate, as long as inflation continues to rise and the U.S. economy remains near full employment.

The Fed, which is charged with the twin goals of maximum employment and stable inflation, this week kept interest-rate policy on hold and signaled it was in no rush to raise rates, citing slowing economic activity despite an improved labor market Kaplan´s remarks were the first from a Fed policymaker after this weeks Fed rate decision.