Fed’s Williams - Fed to begin shrinking balance sheet later this year
|San Francisco Fed President Williams says the Fed will begin shrinking the balance sheet later this year.
Key quotes
US economy is as close as it has ever been to Fed’s two goals (inflation and employment)
Gradually raising rates will prevent US economy from overheating
The latest thing the Fed wants to do is fuel unnecessary volatility of disruption
The underlying economic trend is very positive, confident economy continues to grow
The pullback in global trade integration will be pretty negative
While there has been soft inflation data in the past couple of months, medium-term trend is still pretty favourable
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