Fed's Williams: We need to get real rates back to zero

• Says his expectation is that inflation comes down quite a bit next year
• 50 bps hikes make sense at the upcoming meetings
• We have already seen a tightening of financial conditions larger than in 1994

'Financial conditions' is essentially a code word for the stock market. There's nothing new here so far.

More:

• We're seeing inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term in a broad set of goods
• Mon pol can reduce demand and bring it back into line with supply
• We are seeing increases in rents that we haven't seen before
• We need more housing supply to meet demand
• We have an economy that is out of balance
• The sectors that are most out-of-balance are those which are rate-sensitive

The White House is making some announcements on boosting US housing supply later today.