A rate hike could come in the summer or fall, according to Federal Reserve Bank of San Francisco President John Williams.
Without being too specific, Williams pointed to "later this year" for a gradual move away from the highly accommodative monetary policy in an interview on the Fox Business Network. When pressed about the timing of liftoff, Williams said, "sometime this summer or fall."
Additionally, Williams warned, "We can't wait until inflation is right back at 2% and we are at full employment before we start removing accommodation."
