Williams spoke with reporters after his speech:

  • No need to rush rate hikes but we don’t want to be behind the curve
  • Decline in Dec CPI not a big surprise
  • Sluggish wage growth a sign we don’t yet have tight labor market
  • See global economy as ‘the big negative’ for US
  • Low bond yields not about US, about weakness abroad
  • Drop in market-based US inflation expectations does not reflect state of US

Williams’ to the bond market