Keating Talks Rate Hikes, Global Economy on CNBC

ABA President and CEO Frank Keating appeared on CNBC’s “Squawk on the Street” program on Friday to discuss the Fed’s rate hike timing and the global economic situation. “Everybody is hesitant because of the softness of the Chinese consumer market and what’s happening in Greece,” he noted.

“Interest rates are of concern,” Keating said. “You want to encourage savers, and this artificially low interest rate has been crippling.” When rate hikes begin, he said he expected them to be “measured,” extending over a significant period of time while the Fed watches “the global situation and the fundamentals of the U.S. economy.”