Fed's Fischer says inflation headed toward target - CNBC
WASHINGTON (Reuters) - Signs are building that U.S. inflation is headed toward the Federal Reserve's target, a top Fed official said on Thursday, who repeated his view that the central bank is likely to raise rates this year.
Fed Vice Chairman Stanley Fischer said the U.S. economy is rebounding and that he's seeing signs that wage pressures are rising, bring inflation up toward the central bank's 2 percent target.
"We expect that the markets look ahead somewhat, so, I think - I hope - they are taking into account that the Fed, at some point, is likely to raise interest rates," Fischer said in a CNBC interview on the sidelines of the International Monetary Fund event here. "And they can't depend on the current situation continuing forever, or even, probably, beyond the end of this year."
Fischer added that the Fed is likely to hike this year but that the timing would depend on incoming economic data.
(Reporting by Michael Flaherty; Editing by Chizu Nomiyama)
