Two or three Federal Reserve interest rate increases this year would be “reasonable,” but the central bank will continue to watch economic data, San Francisco Fed President John Williams said Thursday.
“We should stay on our basic strategy of gradually reducing accommodation,” he told CNBC from the sidelines of a conference on monetary policy at Stanford University’s Hoover Institution.
Williams does not vote on the Fed’s policymaking committee this year. Last month, the Federal Open Market Committee voted to keep its target range for the federal funds rate at 0.25 to 0.5 percent as it monitored global economic developments and progress toward its 2 percent inflation target.
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