The Federal Reserve should not specify exactly when it will begin policy normalization, Federal Reserve Bank of San Francisco President John Williams said in a televised interview Monday.
"My personal preference is that we don't have the most telegraphed policy decisions in history, as we did in 2004," Williams said in a CNBC interview.
Previously, Williams said rates could go up at any future meeting, depending on how economic data come in, noting, "You don't want to make a decision two months or three months in advance."
Volatility could be a result of concealing the exact timing of liftoff, Williams conceded. But, he noted, "In a normal economy there is some volatility in markets, that is just a healthy functioning of markets trying to understand and filter what the data means for policy. It's healthy for the future actions to be uncertain because economic conditions can change."
