Focusing in on the Fed announcement, Williams sees a hold as more likely than a raise.
“The way the Fed is thinking is that it needs to start normalizing but not take them anywhere near the peaks they have been at in the past,” he said. “I’m of the view that a December raise would be more justifiable than a September one on the basis that inflation should get to around 1% by then rather than the half a present it is now.”
“Something to remember is that this time round because of QE and the effect on their balance sheets, the central banks have skin in the game,” Williams added. “If they take financial markets off guard they themselves could get hurt.”
