Fed’s Williams preps new Tee-shirt after rate hike

December 18, 2015

San Francisco Federal Reserve President John Williams earlier this year got so sick of answering reporters’ questions about when the U.S. central bank would raise rates that he had his son design a Tee-shirt that he could just give out.

“Monetary policy,” read the Tee-shirt, above an illustration of a computer with an arrow zigzagging upward out of the screen. “It’s data dependent.”

His point: the Fed isn’t on a timetable, but will raise rates when the economic data calls for it.

Now that the Fed finally has raised rates, Williams has sent his son back to the drawing board, he told Reuters in an interview on Friday.

He’s mum on what the Tee-shirt will say.

With Williams a sci-fi fan, and the newest Star Wars installment out this weekend, I guessed it would say “The Fed Awakens,” but he laughed so hard at that I figure it wasn’t what he had been thinking.

So I went back to my drawing board and came up with a few other suggestions:

“Monetary policy: been there, done that, stop asking.”

“Monetary policy: it’s still data dependent.”

“RIP zero rates: December 2008 – December 2016.”

Other ideas?

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