New York Fed President John Williams says
- He expects more rate cuts to happen over time.
- Monetary policy remains in restrictive stance.
- What the Fed does with policy depends on incoming data.
- Outlook for economy and policy remains ‘highly uncertain.’
- Expects US GDP at 2.5% this year, might be higher.
- Sees unemployment rate between 4%-4.25% over coming months.
- Expects US inflation around 2.25% for 2024.
- Further progress on inflation may be uneven.
- US economy in good place, labor market is solid, in balance.
- Expects inflation to continue to gradually ebb to 2%.
- Job market unlikely to be source of higher inflation.
Does not explicitly says that a December rate cut is forthcoming, he does leaned toward more easing as long as things like employment doesn’t get out of hand
This article was written by Greg Michalowski at www.forexlive.com. Source