More commetns from San Francisco Federal Reserve President Williams:
via Reuters:
- US economic data lately has been at or above expectations
- The important thing is that we get this first rate hike done; exact timing not a concern
- Haven't seen anything in last month or two that suggests China growth is worse than thought
- Rise in house prices doesn't mean should raise rates faster, but shows risks of liftoff delay
- Once rate hikes begin, want to avoid any lockstep or discernible pattern of hikes
- October Fed meeting is a 'live' meeting; a little bit more data could convince me to act
- Absolutely confident that Fed has tools to raise rates when it decides to do so
From Williams speaking with reporters following his earlier speech and audience Q&A
And, here are the Bloomberg headlines:
- Tool testing provided lot of information on take up
- Term repo proven to be valuable over quarter-end
- If at 50/50, doesn't take a lot to push to decision
- FOMC policymakers have range of views on liftoff
- October FOMC is a live meeting, September was close call
- October live mtg, get more data than realized, revisions
- Don't want to be on preset time table for hikes
- Housing concerns reason for not waiting until 2% infl
- Important to get first rate hike done
- Not anything to suggest international risk worse
- US economic data has been at, above expectation
- More data between now and October FOMC than many realize
- Econ data has been at/above expectation for liftoff
- Doesn't matter if one, two hikes this yr
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I'm gonna give this the statement of the day ... "want to avoid ... discernible pattern of hikes". Uhh, you and the committee are doing a fine job on this, sir.