It has been indicated by three top Federal Reserve officials on Thursday that interest rates might elevate in some time as the economic recovery in the United States is gaining pace, however it is noticeable that the rates of unemployment in the country are still high.

It was suggested by Thomas Hoenig, President of the Kansas City Fed, that U. S. central bank should increase the benchmark borrowing costs from near zero to 1% towards the end of the fall.

Also according to Head of the Atlanta Fed, Dennis Lockhart, policymakers should now think about “tightening monetary policy”.

On the other hand, Dallas Fed President Richard Fisher, said that however the current economic conditions do not permit tightening, the policy holding authorities should be ready so that a quick step can be taken whenever required.

The comments of all these officials make it clear even after taking into account the European debt markets, the revival of economy is waking some policymakers up. Resulting this, they are now thinking of changing the lowered rates that they have adhered to since a long time.

Hoenig added that according to the “current outlook consensus” it can be said that the economy is getting better and that it will be acceptable if minor inclination in funds rate is practiced.