San Francisco Federal Reserve President John Williams poses for a photo at the Federal Reserve Bank of San Francisco, California, U.S., January 19, 2018. The New York Fed and the San Francisco Fed declined to comment. On March 16, the New York Fed said it was considering “a handful” of final candidates to replace Dudley, who plans to step down by mid-year. Williams, a long-time Fed economist who succeeded Janet Yellen as San Francisco Fed president in 2011, has supported the central bank’s gradual interest-rate hikes and has recently advocated for a reconsideration of the traditional inflation-targeting regime. The New York Fed directors and the Fed Board could face criticism were they to ultimately choose Williams.

Source: Wall Street Journal March 24, 2018 23:48 UTC