Fed’s Williams Sees Another Large Rate Rise at July Meeting as Possible

Federal Reserve Bank of New York President John Williams said Tuesday that the U.S. central bank will be weighing another large rate rise when it meets next month, while noting that he also believes the economy can escape falling into recession.

“We’ve got to get interest rates higher and we need to do that expeditiously,” Mr. Williams said. “In terms of our next meeting. I think, you know, 50 [basis points] or 75 [basis points] is clearly going to be the debate” among policy makers, although the actual size of the rate increase will be driven by the data, he said.