Strong USD is even more of an issue then commodity drop

Feds Williams is speaking to reporters in San Francisco. His comments:

  • Looking at economy over next year or 2 to form policy
  • That you not get caught up in market expectations
  • He wants to go into next meeting with an open mind
  • Big question for Fed is inflation
  • He's aware of low expectations for January rate move.
  • Doesn't worry a lot about day-to-day market moves
  • He sees no signs that asset values are at depressed levels or reflect week economy
  • He continues to expect modern economy and declining US jobless rate
  • Not surprised stock levels are down from peak now that rates are rising
  • Ongoing Fed challenge is getting markets on the same page
  • Market turmoil does not fundamentally alter outlook on US economy

Stands tall and proud in the face of a storm.