Fed won’t choke off growth before election, official reassures

By Joseph Lawler

Published August 16, 2016 1:32pm ET

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Fed won’t choke off growth before election, official reassures — William Dudley said he believes that the U.S. is "edging closer" to the conditions that would merit further interest rate increases from the Fed, which raised rates once in December but since then has held them steady. (AP Photo) | Richard Drew

If Hillary Clinton was worried that the Federal Reserve could endanger her campaign by sparking a recession with rate hikes later this year, a top official said on Tuesday she shouldn’t be.

William Dudley, the president of the Federal Reserve Bank of New York, said the central bank won’t choke off growth even if it does choose to resume raising rates.

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2016 Elections Federal Reserve Joseph Lawler Minusextra Monetary Policy