PANews reported on December 19th that Federal Reserve Chairman Williams stated on Friday that certain "technical factors" may have distorted the November ConsumerPANews reported on December 19th that Federal Reserve Chairman Williams stated on Friday that certain "technical factors" may have distorted the November Consumer
Federal Reserve's Williams: Low CPI data is due to technical factors; there is no rush to adjust monetary policy.
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PANews reported on December 19th that Federal Reserve Chairman Williams stated on Friday that certain "technical factors" may have distorted the November Consumer Price Index (CPI) data, causing it to be lower than actual levels. Williams stated, "There are some specific real factors related to their inability to collect data in October and the first half of November. Because of this, I think certain categories of data were distorted, which could have pulled the CPI data down by about 0.1 percentage points." Williams also stated that the U.S. economy is currently in "good shape" and hinted that he "will eventually see" interest rates decline. However, he emphasized that he is in no hurry to adjust monetary policy.
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