Economics
Williams Says Fed Is Preparing for Higher Rates in 2022
- New York Fed chief expects above-target inflation next year
- Drop in real rates calls for policy adjustment, Williams says
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The Federal Reserve’s decision to pivot toward a more aggressive inflation-fighting stance this week helps position the central bank to begin raising interest rates next year, New York Fed President John Williams said.
“It’s really about getting our monetary policy stance in a good position, and also -- obviously -- creating the optionality, at some point next year, likely, to actually start raising the federal funds target range,” Williams said Friday in an interview on CNBC.