Fed's Williams outlines his conditions for rate hike

NEW YORK Wed Feb 19, 2014 8:35pm EST

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NEW YORK Feb 19 (Reuters) - A top Federal Reserve official on Wednesday said he would only back an interest rate hike if inflation was closer to 2 percent, unemployment was dropping, and gross domestic product growth was "above trend."

John Williams, president of the San Francisco Fed, said he expects economic headwinds for a few more years, including the still-depressed housing market.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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