Fed's Williams: Possible Fed will hike more than FOMC terminal rate forecast

Eren Sengezer FXStreet

In an interview with Bloomberg TV on Friday, New York Federal Reserve President John Williams said that it was possible for the FOMC to hike more than the terminal rate projected in the dot plot.

Additional takeaways

"Fed is well on its way to where it needs to be."

"No need for funds rate over 6%."

"Supply chains are improving around the world."

"Seeing more factors helping to lower inflation."

"We are seeing good news in inflation data."

"Core services inflation remains an issue."

"US is not in a recession, doesn't expect it to fall into recession."

Market reaction

The US Dollar Index showed no immediate reaction to these comments and was last seen trading flat on the day at 104.58.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD trims losses and returns to the 1.1750 area

The US Dollar resumed its decline in the American afternoon, helping EUR/USD trim early losses. The pair trades around 1.1750 as market participants gear up for the European Central Bank monetary policy decision and the United States Consumer Price Index.