New York Fed President John Williams said Fed has a “very clear market” that “substantial further progress” needed to be achieved before tapering asset purchases. “That’s where I’m focused, clearly, right now we have not achieved that,” he said.
“This is a time of very high uncertainty,” he noted, adding that “I’m not going to give a forecast of when the committee will come to a decision around changing the pace of asset purchases.” He preferred completing tapering before raising interest rates but “that’s way off in the future for me”.
