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.