The Federal Reserve will not raise interest rates this week: Larry Lindsey

The Federal Reserve will not raise prices on Wednesday "for all the right reasons," said former mate mate Larry Lindsey to CNBC on Tuesday.

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The central bank is expected to announce whether it will raise prices by a quarter-point on Wednesday and market consensus is that it will do it.

" Bold should not raise prices because GDP is growing too fast or because too many people work. What they need to do is look at inflation, "CEO of Financial Consultancy. The Lindsey Group said" Power Lunch. " "

" We get more verification of falling inflation, "Lindsey, who served as Governor of the Federal Reserve from 1[ads1]991 to 1997, and as director of the Economic Council under President George W. Bush.

The Central Bank is holding the last monetary policy The meeting of the year on Tuesday and Wednesday. A quarterly rate increase, as the market is expected, would be the fourth in 2018.

President Donald Trump has repeatedly urged Fed to not increase the rates. Tuesday he made a last dive station on Twitter and said: "Feel the market, do not just go with meaningless numbers. "

Lindsey said that while a quarter-point trip is not so important, it's important that Fed is credibility.

" If they rise tomorrow, they will say, "We ignore the data." They say, "Our task is to implement what we said three months ago, instead of looking at facts on the ground." "

The Federal Reserve refused to comment on Lindsey's comments.

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