Editor’s Picks 18 August 2016 at 23:53 GMT

Fed's Williams: September hike 'makes sense'

San Francisco Federal Reserve Bank President John Williams on Thursday joined a growing chorus of his colleagues signaling support for a US interest rate hike in coming months, saying that waiting too long could be costly for the economy. "I think every one of our meetings should be in play in principle ... I definitely think September should be," Williams told reporters after a speech here, referring to the US central bank's next policy meeting. "I think that makes sense given where the economy is."Saying he is in no hurry to raise rates, Williams nevertheless warned that the economy could overheat if rates are kept low for too long, like a party at which the host fails to remove the punch bowl. Williams does not have a vote on Fed policy this year, but his views are seen as influential on the policy-setting committee because of his longstanding relationship with Fed Chair Janet Yellen, his former boss at the San Francisco Fed, and his research-driven style.
Read full article at Reuters


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