March 7, 2014 / 6:14 PM / 4 years ago

Rate rise around mid-2015 a reasonable assumption: Fed's Dudley

NEW YORK (Reuters) - It is reasonable for investors to predict that the U.S. Federal Reserve will raise interest rates sometime around mid-2015, New York Fed President William Dudley said on Friday.

President of the Federal Reserve Bank of New York William Dudley attends a forum organized by Mexico's Central Bank in Mexico City October 15, 2013. REUTERS/Tomas Bravo

Market expectations are for the Fed to raise interest rates “sometime toward the middle of 2015,” he said at Brooklyn College. “I think those are a very reasonable set of expectations based on what we know today, and our economic forecasts.”

Most market participants who closely follow the Fed, he noted, are expecting a rate rise when the unemployment rate falls to around 6 percent.

Reporting by Jonathan Spicer; Editing by Chizu Nomiyama

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