Fed’s Williams stresses need to stick to 2Pct inflation target – WSJ
|In the Wall Street Journal, it is being reported that the Federal Reserve Bank of New York President John Williams said Sunday that low global interest rates are here to stay, which should lead central bankers to renew their commitment to inflation goals.
“There’s been a process of going through the stages of grief about a low neutral rate,” he said. “These factors are basically the hand we’ve been dealt for the next five to 10 years.”
FX implications
The Fed is expected to stay on hold for the foreseeable future while Powell is at the helm – future traders certainly don't see any moves. Federal Reserve projections show no interest-rate changes next year but the annual rotation among voters could still influence policy as incoming members include an outspoken dove while two hawks depart.
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