The Chairman of the New York Federal Reserve and a member of the Fed’s Board of Governors, John Williams, has made a statement to CNBC this Friday pointing out that inflation in the United States is currently too high and therefore it makes sense to accelerate the pace of QE reduction from the bank, according to Reuters.
Featured statements:
“I don’t see any real benefit in speeding up the adjustment further.”
“It’s really about creating options for next year.”
“Decisions on interest rates will depend on economic data“.
“I am optimistic that the Fed will see really solid improvements in the labor market.”
“We expect the unemployment rate to drop to 3.5% by the end of 2022 and growth above trend. “
“The baseline outlook for next year is very good.”
“Rising interest rates would be a positive sign of where we are in the business cycle, but it will be driven by data.”
“The Fed is focused on both dual mandate goals.”
“Inflation may be a factor in the Fed raising rates more quickly over time“.
“The Fed wants to monitor real interest rates.”
“The Fed will move real interest rates back to what they consider neutral, but the question remains as to where that is.”
“The Fed has shown that it can achieve both maximum employment and price stability.”
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