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Williams said there's "no clear science" on whether current policy is tight enough to bring inflation back to the Fed's 2% target
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New York Federal Reserve President John Williams signaled Wednesday that he is open to raising interest rates at the Federal Open Market Committee's September 15-16 meeting, a shift from his previous stance favoring a hold on rates.
"There's no clear signs right now whether monetary policy currently is sufficient to make sure we bring inflation back to target in the next year or two, or whether you need to see further action to do that," Williams said in a "Squawk Box" appearance on CNBC, speaking with anchor Steve Liesman from the New York Fed's headquarters. He added that recent inflation data had been "encouraging" but that policymakers needed to consider a fuller picture of incoming information. He rounded out the thought by saying, "We've got to get a full picture and look at all the different pieces of information we have."
