Fed's Williams: Fed not taking calendar-based approach to rates or policy
|The US Federal Reserve is not taking a calendar-based approach to interest rates or the monetary policy, New York Federal Reserve President John Williams said on Thursday, as reported by Reuters.
Additional takeaways
"It would be concerning if higher inflation persisted."
"I don't think the big increases in prices mean inflation will continue."
"My view is inflation will come down to about 2% next year and the year after."
"Prices are just adjusting back to normal and that won't continue year after year."
"As demand stabilizes and supply comes back then price increases will slow."
"Fed is watching inflation carefully."
"Once the economic recovery is more complete, the Fed can take back low interest rates."
"The time to change rates is not now, the economy is still far from maximum employment."
"The Fed is using a range of metrics in assessing the economy, including high-frequency data."
Market reaction
The US Dollar Index clings to small recovery gains following these comments and was last seen rising 0.05% at 91.83.
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