Fed’s Williams Says Decision on Rate Increases ‘Approaching’
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John Williams
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Federal Reserve Bank of New York President John Williams said that given current signs of a very strong labor market, the U.S. central bank is approaching a decision to begin gradually raising interest rates from near zero.
“The next step in reducing monetary accommodation to the economy will be to gradually bring the target range for the federal funds rate from its current very-low level back to more normal levels,” Williams said Friday at a virtual event hosted by the Council on Foreign Relations. “Given the clear signs of a very strong labor market, we are approaching a decision to get that process underway.”