The president of the New York Fed, the influential member of the FOMC, John Williams, he said on Friday that he expects it would be appropriate to increase the target range for federal funds in March, according to Reuters. Williams added that he then expects the Fed to begin the process of steadily and predictably reducing its holdings of Treasury and mortgage-backed securities later in the year.
Williams said his forecast for US real GDP growth in 2022 is 3.0% and the unemployment rate will end the year around 3.0%. He went on to say that he expects core PCE inflation to fall back to around 3.0% this year and then fall further in 2023 as supply issues continue to recede. Finally, Williams said that he is confident that the Fed will deliver a strong and sustained economy while keeping inflation at its long-term target of 2.0%.
Source: Fx Street
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