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Fed's Williams Stands by Hike Outlook as Unemployment Drops

  • Says rate forecast hasn’t moved; saw at least three in 2017
  • U.S. may be ‘a little bit beyond’ full employment, he says

Federal Reserve Bank of San Francisco President John Williams said his outlook for three or four rate increases in 2017 hasn’t shifted, as the labor market shows signs of expanding beyond its sustainable rate and the economy is operating above potential.

“I haven’t changed, again, my views on what appropriate policy is” for the remainder of the year, Williams told reporters on Friday after a speech in New York, referring to his comments last month that three or four hikes would be required.