Fed’s Williams: We still have work to do on rates
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New York Federal Reserve President John Williams said on Wednesday that the labor market is still very strong and added that they have more work to do on rates, as reported by Reuters.
“The Fed will watch the data to determine the path of rate rises,” Williams added and argued that inflation could prove more persistent. “Maybe services prices stay elevated, and if that happens we’ll need higher rates.”
The US Dollar Index showed no immediate reaction to these remarks and was last seen posting small daily losses at 103.25.
“Last year we had a long way to go on rates and that needed big steps.”
“We are likely now closer to peak and can take smaller steps.”
“25 bps rate hikes seem the best option for now, they allow us to more easily assess rates.”
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