Fed Closer To Getting Rid Of Considerable Time Language: Fischer

The U.S. central bank was closer to getting rid of its forward guidance that interest rates would be kept close to zero for a "considerable time," said Federal Reserve Vice Chairman Stanley Fischer on Tuesday. In an appearance at the WSJ CEO Council meeting in Washington, Fischer would not comment on whether the forward guidance would be changed at the next policy meeting in two weeks. Fischer said that continued labor market improvement and just "some signs" that inflation is beginning to stir would be enough for the U.S. central bank to lift interest rates. If inflation continues to move lower, then the Fed will have to take that into account, Fischer said.

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