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
