Don’t miss the latest developments in business and finance.

Fed's Williams sees case for three rate hikes even with no fiscal stimulus

Image
Reuters SACRAMENTO
Last Updated : Jan 18 2017 | 6:28 AM IST

SACRAMENTO (Reuters) - San Francisco Federal Reserve Bank President John Williams on Tuesday said he sees a "good case" for three rate hikes this year even without any fiscal stimulus, but if the economy accelerates, the Fed would need to raise rates faster.

Williams told reporters after a speech at Sacramento State University that he penciled in some fiscal stimulus to his forecast, and expects growth to be slightly faster in the second half of this year and next year as a result. But a big tax cut or other substantial fiscal stimulus could prompt him to factor in faster growth, and more aggressive rate hikes.

(Reporting by Ann Saphir; editing by Diane Craft)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

More From This Section

First Published: Jan 18 2017 | 6:15 AM IST

Next Story