San Francisco Federal Reserve Bank President John Williams called Thursday for an increase in the Fed's policy rate as early as September, saying the risks of waiting too long are growing.
"In the context of a strong domestic economy with good momentum, it makes sense to get back to a pace of gradual rate increases, preferably sooner rather than later," Williams said.
"We're at full employment, and inflation is well within sight of, and on track to reach, our target," he said. "Under these conditions, it makes sense for the Fed to gradually move interest rates toward more normal levels."
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