Fed’s Williams Expects Strong Economic Recovery

President of the Federal Reserve Bank of New York, John Williams, said on Wednesday that the pace of economic recovery would determine when the Fed could begin raising interest rates.

Wide distribution of vaccines, containing the virus, and strong economic growth could lead the U.S. Federal Reserve to pull back some of its easing policies.

“I don’t know when we will take the next policy action because it will be driven by what happens in the economy.”

“I see the U.S. economy recovering really nicely over the next couple of years.”

“I don’t see inflationary pressures really building during that time.”