FXStreet (Guatemala) - San Francisco Fed President John Williams (non-voter in 2016 FOMC) warned on Friday (15 Jan) during a panel discussion that international risks pose the greatest threat to the US economic expansion, especially China. Key Quotes: "He also said that “gradual” is the key word for US monetary policy this year and that the Fed will not raise rates in an abrupt manner. Meanwhile, New York Fed President William Dudley (permanent voter in FOMC) on Friday (15 Jan) downplayed a recent string of weak US economic data, prospects for “greater turbulence” in global financial markets driven by emerging-market weakness, and a drop in inflation expectations at a time price gains are lagging the central bank’s 2 percent objective. Instead, Dudley remained confident that the US economy should continue to grow faster than its potential in 2016, supporting further interest-rate increases by the Federal Reserve this year. He was also unperturbed by the differences between interest rates implied by futures markets and those contained in the Fed’s own outlook and he believed that, “projections will adjust as incoming information changes the economic outlook. I would expect convergence over time.”" For more information, read our latest forex news.