US ‘very close’ to full employment – S.Fischer

Stanley Fischer, Vice Chair of the Federal Reserve, has reiterated today that the US economy remains ‘very close’ to full employment, although productivity growth still remains slow.

Fischer also said that a rate path hinges on the economy. While negative rates have been ruled out for the time being, he stressed that they work in some cases.

Furthermore, he argued that the most fundamental factor in productivity is not the dollar.