NY Fed President Williams: I see no urgency in cutting rates
“I certainly don’t see an urgent need to lower interest rates given the strength of the economy,” New York Fed President John Williams said.
US Federal Reserve (Fed) policymakers have coalesced around the idea of keeping borrowing costs at the same level, possibly through the end of the year, given the slow pace of inflation.
“I certainly don’t see an urgent need to lower interest rates given the strength of the economy,” New York Fed President John Williams said at Semaphore’s World Economic Summit in Washington. Stating that interest rates will eventually be reduced at some point, Williams noted that the timing of this will be determined by the economy.
Cleveland Fed President Loretta Mester, in her statements late Wednesday, said the Fed would probably cut interest rates “at some point,” staying away from the phrase “this year” that she and Williams had previously used.
Speaking in Fort Lauderdale, Florida, on Thursday, Atlanta Fed President Raphael Bostic said, “I am patient,” and announced his view on the possible timing of the first interest rate cut at the end of the year.