Federal Reserve Member Looking to December for Next Rate Boost

Federal Reserve Bank of San Francisco President John Williams said the best time for the U.S. central bank to raise rates again likely will be at its policy gathering in December.  Williams still expects one rate increase this year, and says it could happen at either of the two remaining rate-setting Federal Open Market Committee meetings in 2016.

However, he says it could be better to wait a bit longer to boost what is now a 0.25% to 0.50% overnight target rate range, according to Pro Farmer’s First Thing Today. That is because Fed Chairwoman Janet Yellen will have a press conference at the December meeting, but not at the gathering scheduled for November.

“We can always take policy actions at any meeting, but I think there are some advantages, in my own mind, around a press conference,” Williams said.

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