Fed’s Williams Sees Need for Rate Hikes While Harker Eyes December
- Says bank loan spreads may be hit in low rate ‘new normal’
- Fed’s Harker backs rate hike in December, three moves in 2018
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Federal Reserve Bank of San Francisco President John Williams said moderate growth and his outlook for higher inflation will allow the U.S. central bank to raise interest rates, while his counterpart in Philadelphia signaled he’s anticipating a hike in December.
“Favorable employment numbers, combined with the findings on inflation and the steady pace of growth, are all behind my confidence that rates will need to rise to their new normal levels,” he said Thursday at a community bank research conference in St. Louis, without giving any hints on the timing of the next move.