MNI BRIEF: Fed's Williams Open To 50BP Rate Move

New York Fed President John Williams said Friday he is open to a 50bp interest rate increase depending on incoming data.

"We'll watch the data and analyze this," he said. "If it's appropriate to raise interest rates by 50 bps at a meeting, then I would think that we should do that. If it's appropriate to do 25 - we should do that."

"I don't see any reason not to do one or the other. It's just we just need to make the right decisions based on what what we're seeing in the economy and how our policy decisions will affect the outlook."

The FOMC's updated projections last week showed a median expectation for seven quarter-point rate hikes this year.