New York Fed President John Williams said overnight that the US is “in a great position”, where “unemployment is very low, the economy has got a lot of, I think good, positive signs and for us it’s just keeping a good balance. Keeping this economy strong and stable.”
For now, Williams noted “interest rates are still very low”. And, “We’ll be likely raising interest rates somewhat but it’s really in the context of a very strong economy”. Though, he also noted that Fed is “not on a preset course”, but “we’ll adjust how we do monetary policy to do our best to keep this economy going strong with low inflation.”
For December meeting, Williams said, “what we’re going to do over the next FOMC monetary policy meeting, we’re going to do what we’ve been doing as best we can – we’re going to find a … gradual path of the monetary policy back to a more normal level of interest rates.”
