San Francisco Fed President John Williams sees a “Strong Case” for an Interest Rate Hike in December
On Saturday, one of the top Federal Reserve official said that, raising of interest rate when the policy makers meet next month looks to be a "strong case". But that depends on the U.S. economic data and as long as it remains healthy the chances of a hike stay optimistic.
John Williams, San Francisco Fed President said after a conference at University of California Berkeley's Clausen Center, "Assuming that we continue to get good data on the economy, continue to get signs that we are moving closer to achieving our goals and gaining confidence getting back to 2-percent inflation... If that continues to happen there's a strong case to be made in December to raise rates."
The Federal Reserve's Federal Open Market Committee which sets policies will have their next meeting on December 15 and 16 in Washington where they will discuss a likely policy move.
Most of the economists and traders of federal funds futures expect that there will be a hike in key interest rates from near-zero as the outcome of the meeting. It's been the bank's lending rate since 2008 financial crisis.