New York Fed President John Williams on Tuesday said he was comfortable with the level U.S. interest rates are at now, and sees no need to raise them again unless growth or inflation shifts to an unexpectedly higher gear. In an interview with Reuters, Williams estimated the Fed would continue trimming its bond portfolio well into next year. He also said he felt rates had reached his current view of a lower “neutral” level, with growth and unemployment leveling off and inflation, if anything, a bit weaker than hoped for. Asked if it would take some sort of shock to resume rate increases, he said it would require one ... (full story)