Fed's Williams: Prefers liftoff sooner rather than later
Translation: I want to hike in December
- Prefers to raise interest rates sooner rather than later
- Waiting too long to hike risks overshooting on inflation
- Earlier hike allows subsequent hikes to be smooth, gradual
- Economy still needs some accommodation but can't keep rates low forever
- Sees inflation rising to 2% within next 2 years
Arguing for a hike now so other hikes (if the economy is strong) can be 'smooth', strikes me as a poor argument.