US Federal Reserve’s John Williams says decision not to raise rates was a ‘close call’

The Federal Reserve’s decision to hold interest rates steady last week rather than raise them was a close call, San Francisco Fed President John Williams said on Sunday.

Williams said the U.S. job market was nearly at full strength but increased concern over the global economy and financial system led policymakers on Thursday to hold off on interest rate hikes.

“In my mind it was a close call,” he told Fox Sunday Morning Futures.

The US Federal Reserve kept interest rates unchanged on Thursday in a bow to worries about the global economy, financial market volatility and sluggish inflation at home, but left open the possibility of a modest policy tightening later this year.