US elections will not influence central bank policy, Fed´s Williams says

Rate-setters in Washington would not hold back from tightening monetary policy in 2016 on account of the
US presidential elections, a regional Fed boss said.

Speaking to broadcaster Fox on Sunday the president of the Federal reserve bank of San Francisco, John Williams, said: "We've proven over and over again that we can act in presidential election years."

"We are about as apolitical as you can imagine just focused on our goals," he added.

"In my view it will be appropriate to start raising rates again later this year," Williams said, adding that policy-makers would continue to scrutinise incoming data on the economy ahead of their next meeting.