Fed's Williams: Four projected rate hikes would be 'gentle ascension'

WASHINGTON (MarketWatch) - The U.S. central bank's baseline projection of four rate hikes in 2016 is more like a "gentle ascension" rather than rocket "shooting straight up," said San Francisco Fed President John Williams, on Friday. In a speech to the California Bankers Association in Santa Barbara, Williams said the expected path is about half the pace of the last tightening cycle, and means it will take three years before the target federal funds rate hits "our cruising altitude." Investors are only pricing in two rate hikes this year. The San Francisco Fed president, who is not a voting......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web http://ift.tt/1UD33Zj
via IFTTT