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New York Fed Names John Williams as Its Next President

  • Career Fed economist to help supervise Wall Street firms
  • He has favored three to four interest-rate hikes this year
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Bloomberg’s Mike McKee and Jefferies’ Thomas Simons discuss the selection of John Williams to head the NY Fed.(Source: Bloomberg)
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Federal Reserve Bank of San Francisco President John Williams was selected to run the U.S. central bank’s powerful New York branch, installing a monetary economist in Fed Chairman Jerome Powell’s inner circle and a banking-industry outsider to help oversee Wall Street.

Williams, who will replace William Dudley as New York Fed president effective June 18, has spent most of his career at the Fed and is considered a centrist on monetary policy. Williams recently said that he favors the largely consensus view of three to four rate hikes this year.