Williams-a further rate increase is needed
2022.12.01 14:08
Williams-a further rate increase is needed
Budrigannews.com – On Thursday, in a televised interview, the chairman of the New York Fed, John Williams, confirmed his belief that reducing the excessive price burden will require further interest rate increases.
In an interview with the Financial Network , Williams said: “I still believe that we have a path where the Fed’s target is, and where we need to reach it next year in order to achieve a sufficiently limited position” of monetary policy needed to reduce pressure on prices.
Williams dodged when he asked if the Fed would increase rates by at least 75 basis points next month. However, he stressed that “slowing the pace” of a rate hike simply means “maybe taking one step back” when trying to raise rates to the level necessary to reduce price pressure.
