Feds Williams on Yahoo finance
- Does not think that time to take action is now
- He expects to see strong GDP growth this year
- The overall picture is very positive
- It's going to take some time for businesses and others to adjust
- People want to get back to work but it will take several months to see progress
- We should be thinking through all of the issues around the economic recovery and policy options
- Right now his view is were not near the substantial further progress marker
- It makes sense for the Fed to be thinking through options it has in the future
- Economy is in a good trajectory but still quite a ways off from reaching substantial further progress
- Demand is strongest supply-side of the economy has to catch up
- See supply chain issues being worked out in the coming months
- Some recent price increases are really just reversals of the price declines
- Trimmed inflation measures show more moderate rises.
- Reverse repo facility is working exactly as designed
- Given strength of economic recovery and good market conditions, it is time to unwind the corporate bond holdings
- Neutral rates are still very low across the globe
John Williams is the president of the New York Fed. As a result, he has a permanent vote on the FOMC board.