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Fed's Williams says more agreement on FOMC than dissents imply

BY Reuters | ECONOMIC | 01:52 PM EDT

NEW YORK, May 4 (Reuters) - Federal Reserve Bank of New York President John Williams said Monday that there's more agreement on the rate-setting Federal Open Market Committee than last week's policy vote suggests.

Williams, speaking in New York, said it's natural to see more disagreement between policymakers in times of uncertainty and change. But he added that even with all of the opposing votes last week against the Fed retaining an easing bias, "I would say there was far more agreement about where policy is today" than that vote indicates.

(Reporting by Michael S. Derby, Editing by Franklin Paul)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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