(Bloomberg) -- Federal Reserve officials stressed that policy should be tightened only gradually after interest rates are increased for the first time since 2006, with New York Fed President William C. Dudley saying the conditions for liftoff "could soon be satisfied."
Though Dudley declined to say if he expected rates to rise at next month's meeting of the policy-setting Federal Open Market Committee, he devoted considerable space in his speech to the Economic Club of New York to explaining why the central bank should proceed with caution as it raises rates above zero.
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