ELTVILLE AM RHEIN (German) – President John Williams of the New York Fed said Tuesday that the Federal Reserve signalling it would likely increase interest rates by 50 bps at its next two meeting in June and July was sensible.

Williams stated that “I think, as a basis case of thought, 50 basis point increase makes sense exactly like Chair Powell,” Williams explained to reporters in response to a speech he gave at the Eltville am Rhein economic conference.

“We’re removing accommodation quickly… and that leaves us some room to make a move like the 50-basis point increment in the next few meetings.”