New York Fed Chief Expects Gradual Rate Rises - ABI

New York Fed President John Williams said he expects the U.S. central bank to press forward with its slow and steady pace of rate rises, the Wall Street Journal reported. “We are going to be doing what we’ve been doing, as best we can” and pursue “a gradual path” of getting back to more normal interest rates, Williams said yesterday. “Interest rates are still very low. We’ve raised them but they are still at a low level.” Williams, who also serves as vice chairman of the interest-rate setting Federal Open Market Committee, didn’t offer much in the way of specific guidance about the outlook for rates. Fed officials are widely expected to raise what’s now a short-term interest-rate target range that stands at between 2 percent and 2.25 percent next month and to press forward with more increases next year.

Back to News »