By Michael S. Derby
NEW YORK (Reuters) – New York Federal Reserve President John Williams said Friday that he did not expect the U.S. to fall into recession and that it was possible the Fed raises rates further than forecasts released by the central bank earlier this week.
“We are going to have to do what’s necessary” to get inflation back to 2% and that could mean that when it comes to further rate rises, the end point of action “could be higher than what we wrote down” at the Federal Open Market Committee meeting this week, he said on Bloomberg TV.
Against the Fed’s current rate target of 4.25% to 4.5%, the Fed penciled in a 5.1% stopping point next year.
(Reporting by Michael S. Derby)
