WASHINGTON — An ally of Federal Reserve Chair Janet Yellen who has been a longtime skeptic of raising interest rates is signaling that the Fed should be in no hurry to act, especially after Friday's bleak U.S. jobs report.
Fed board member Lael Brainard says other recent economic developments have muddied the picture of the U.S. economy. And she points to additional risks, including possible market turmoil if Britain votes later this month to leave the European Union.
Speaking to the Council on Foreign Relations, Brainard says she thinks there's still "an advantage to waiting until developments provide greater confidence" before raising rates. The Fed next meets June 14-15.
Brainard's remarks Friday could be a preview of a speech Yellen will give Monday outlining her own views on the economy and rates.
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