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.