(Bloomberg) -- U.S. financial conditions have loosened to the easiest levels since August 2014, in large part thanks to tighter credit spreads, according to a Federal Reserve Bank of Chicago index. The gauge suggests conditions have only been easier 76 times in 2,320 weeks of data from 1973. New York Fed President William Dudley said Monday that “essentially what's happened is we haven't actually tightened financial conditions” as the U.S. central bank has raised interest rates.
To contact the reporter on this story: Matthew Boesler in New York at mboesler1@bloomberg.net.
To contact the editors responsible for this story: Brendan Murray at brmurray@bloomberg.net, Alister Bull
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