John Williams

We should expect the Fed's tightening to continue. But a lot of the recent incoming data has been soft. And while this may just be a blip, I expect the curve to flatten further by mid-year.

The Fed should not use rate policy to deal with financial stability concerns. The Fed should concentrate rate policy on its dual mandate and that’s it. Instead the Fed should use non-rate mechanisms to exert regulatory control. The worst…

I've been following the Fed's forward guidance recently and, frankly, I find it confused. On the one hand, it was a clear mistake to have raised rates in December. We see this now in retrospect due to the tightening of financial conditions…

Continuing where I left off last week, I am going to emphasize here that the Federal Reserve is likely to raise US interest rates unless the US economy slows materially. Meanwhile, the economic and market fundamentals are moving in the…

In September I wrote that I expected the Fed to establish a lower bound for inflation threshold as one of its next moves. The rationale was two-fold. First, inflation is undershooting and the Fed needs policy space to deal with unwanted…

Comments by top Federal Reserve officials support the idea that the Fed is going to move away from quantitative easing as a policy tool and lean more heavily on forward guidance. There are a number of reasons for this, not the least of…

At 2PM ET today, the Federal Reserve is releasing the latest FOMC statement. Market players do not expect the Fed to taper its large scale asset purchase program because recent economic data in the US have been weak. Given controversial…

The Federal Open Market Committee has used various forms of forward guidance to influence the views of businesses, investors and households about where monetary policy is likely to be headed. This column by the President of the San…

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