Voter on FOMC

The NY Fed's Williams is no the wire saying:

  • would need a different outlook for inflation or growth to back further rate hikes
  • he roughly estimates reserves on balance sheet to fall to $1 trillion works somewhat more verses about $1.6 trillion currently
  • monetary policy is where it should be with rates around neutral
  • currently mixed data a strong argument for taking some time on rates
  • he expects to be drawing down balance sheet for some time
  • new patient stands does not mean not raising rates for that policy is set for all time
  • US economy is in a very good place

Williams made the comments in an interview with a Reuters journalist covering the Federal Reserve.

Reuters Spicer interviews Feds Williams