Williams says Fed policy is almost normal

John Williams
Shell Jiang

The Fed’s slimmed-down statements are a sign that the US is nearing the end of the normalisation process, said New York Fed president John Williams in a speech on October 9.

The Fed is “inching closer to conducting normal monetary policy”, Williams said.

The Fed president expects GDP to increase by around 3% this year and by 2.5% in 2019, and inflation to marginally rise above the 2% target. Assuming the growth forecasts are realised, this would be the longest US economic expansion in history,

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