Federal Reserve Bank of San Francisco President John Williams, who will vote on policy this year, said raising interest rates in June would be a close call amid “strong momentum” in the labor market and weaker wage gains.
“I would expect by June that the argument pro and con for lifting off rates will be probably a close call” assuming that inflation doesn’t fall further, Williams said today in a telephone interview from his San Francisco office. “It’s a reasonable guess.”
His remarks dovetailed with earlier comments from Atlanta Fed chief Dennis Lockhart, also a voting member of the policy-setting Federal Open Market Committee this year, that rate liftoff in mid-2015 would probably be justified.
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