NEW YORK—Before 1994, the Federal Reserve (Fed) did not even announce interest rate decisions. The markets were left to guess what would happen after each meeting.
By 2016, the Fed communicates so much, markets sometimes don’t know what they should make of the different utterances of different Fed officials.
Today, it was the turn of the president of the San Francisco Fed, John Williams. Of course, the focus was to get any clues about a possible rate hike in June, after its first hike to 0.25 percent in December of 2015 and three meetings without further raises in January, March, and April this year.
But his speech at the Council on Foreign Relations contained much more than just that.
I don't know what will happen in June, it depends on the data
, San Francisco Fed
