New York Fed President and influential FOMC member John Williams said on Friday that the speed of interest rate increases this year should be driven by data, Reuters reported.
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“The Fed needs to be clear that both the balance sheet reduction and rate hikes will affect financial conditions.”
“Given the imbalances between supply and demand, we need rates to steadily return to normal levels.”
“I’m very focused on thinking about real interest rates.”
“We need to keep an eye on whether supply chains slow down when deciding the path of tariffs.”
“The war in Ukraine could also affect the outlook, so the Fed needs to be nimble.”
When asked about a 50bps rate hike in May, Williams said he will “look at the data and analyze it.”
“If it’s appropriate to raise 50 bps in a meeting, I’ll do it.”
“We need to make the right decisions based on what we’re seeing in the economy.”
Source: Fx Street
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