New York Federal Reserve Chairman John Williams He said on Wednesday that the labor market remains very strong, adding that they have more work to do on rates, Reuters reported.
“The Fed will look at the data to determine the path of rate hikes,” Williams added, arguing that inflation could be more persistent. “Maybe utility prices will stay high, and if that happens we’ll need higher rates.”
Market reaction
The Dollar Index (DXY) showed no immediate reaction to these comments, posting small daily losses at 103.25.
Other comments
“Last year we had a long way to go in terms of rates and that required big steps.”
“It is likely that we are now closer to the maximum and can take smaller steps.”
“25 basis point rate hikes seem the best option for now, they allow us to assess rates more easily.”
“A top rate of 5%-5.25% is still a reasonable view.”
“Fed policy is barely tight right now.”
“Financial conditions have tightened.”
“Financial conditions appear broadly consistent with the Fed’s outlook on policy.”
“If financial conditions ease too much, we would have to raise rates.”
“We have to take a long-term view of the data, not get caught up in the day-to-day.”
“We see more positive signs globally on growth.”
“Some signs that the US economy is also showing more resilience.”
“Signs suggest we still have some work to do to get the economy back into balance.”
“Delays in our actions also take time; we take that into account.”
“Demand in our economy is much stronger now than in normal times.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
