Fed’s Quarles: Gradual rise in interest rates are 'appropriate'

Federal Reserve (Fed) Vice Chairman Randal Quarles, the central bank’s supervision chief, is out on the wires now, via Reuters, making his scheduled speech titled "10 years after the Global Financial Crisis: How has the world economy changed and where will it go?" at the International Financial Symposium, in Tokyo.

Key Headlines:

US monetary policy remains accommodative.

US economy is performing very well.

Anticipates further gradual rate increases.

Gradual rise in interest rates are 'appropriate'.

Small divergences on inflation target is not a great concern.

Soft inflation likely transitory.

Investment drought that has afflicted US economy may be breaking.

Recent US tax and fiscal policy could help sustain economy's momentum.

Recent volatility in equities shows that assets prices can move rapidly and unexpectedly.