RENO, Nev. The Federal Reserve will likely raise U.S. interest rates more slowly than at any time in American history, San Francisco Fed President John Williams told reporters after a speech to The Hayek Group here.
Williams said he sees slower rate hikes now than he did just a year ago, and that raising rates to what he sees as the new normal of 3 percent will likely take more than two years. A rate hike, he said, is on the table for this month, though the decision will depend on the economic data and the discussion with colleagues at the Sept. 20-21 meeting.
(Reporting by Ann Saphir; Editing by Simon Cameron-Moore)