Fed’s Williams Says "I Don’t Know What We’ll Do In June"
By Tyler Durden
Some were concerned earlier today, when SF Fed’s John Williams said that he sees about 2-3 rate hikes in 2016, followed by another 3-4 in 2017, suggesting a grand total between 5 and 7 more rate hikes over the next 18 months. However, those fears were promptly dissiptated when as Williams himself admitted during the reporter Q&A, he – like virtually everyone else at the Fed – has no idea what he is talking about. To wit:
- FED’S WILLIAMS SAYS `I DON’T KNOW WHAT WE’LL DO IN JUNE’
Clearly unwavering from having zero credibility, her also added the following:
- WILLIAMS SAYS UPCOMING FOMC MEETINGS ARE `LIVE’ FOR RATE MOVE
- WILLIAMS SAYS FED FACING LOT OF UNCERTAINTIES SUCH AS BREXIT
- WILLIAMS SAYS BACK-TO-BACK RATE HIKES ARE POSSIBLE BUT UNLIKELY
- WILLIAMS: BACK-TO-BACK HIKES INCONSISTENT WITH GRADUAL FED PLAN
Some more Fed “observations” on the economy:
- WILLIAMS: WANT TO SEE DATA CONSISTENT W/BETTER 2Q GDP TRACKING
WILLIAMS: Q1 GDP PRETTY ANEMIC, Q2 TRACKERS SHOWING ABOVE 2%
WILLIAMS: EXPECTS TO MOVE VERY GRADUALLY THIS YEAR, NEXT - WILLIAMS: STILL SEE UNCERTAINTY ON BREXIT, CLD IMPACT JUNE
And the punchline:
- WILLIAMS: ‘GOOD THING’ MKTS RATE HIKE PRICING CLOSER TO FOMC’S
What he meant is “good thing” the Fed’s “dot plot” and rate hike forecast is closer to the market’s.
Source: Fed’s Williams Says "I Don’t Know What We’ll Do In June"
