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Fed's Williams sees no need to change rate policy right now

BY Reuters | ECONOMIC | 06:47 PM EDT

By Michael S. Derby

NEW YORK, May 14 (Reuters) - Federal Reserve Bank of New York President John Williams said on Thursday he does not see a need right now for the central bank to weigh any change in interest rate policy amid the uncertainty created by the Middle East war.

Monetary policy is in a "good place" right now, the official said in remarks given in New York.

"I don't see there's any reason at all to raise rates right now or lower rates right now, but you just have to see how what happens" before making the call on what is next, he added. (Reporting by Michael S. Derby; Editing by Nia Williams)

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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.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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