Fed's Williams: Expects Fed to Further Cut Interest Rates

The Golden Data reported on December 3rd that John Williams, President of the Federal Reserve Bank of New York, stated on Monday that as inflation pressures continue to ease, the Fed may further lower the Intrerest Rate target. Williams said in a speech at a meeting of the Queens Chamber of Commerce in New York: ‘monetary policy remains restrictive to support sustainable return of inflation to the 2% target.’ Looking ahead, ‘I expect that over time, continuing the shift to a more neutral policy setting will be appropriate,’ Williams said, adding that the policy path will depend on data. If there’s anything we’ve learned over the past five years, it’s that the outlook remains highly uncertain. Williams did not provide a clear indication of the timing of a rate cut or whether he thought the Fed would drop the Intrerest Rate target at this month’s FOMC meeting.