- Latest data getting us closer to a disinflationary trend that we’re looking for
- But would like to see more data to gain further confidence inflation is moving sustainably to 2% goal
- Last week's data reflects a broad decline in inflation
- Things are moving in the right direction
- Even if Fed begins to cut rates, policy will remain restrictive enough
Williams did somewhat rule out a July move as well, not that markets were expecting it anyway. He says that the Fed is "going to learn a lot between July and September" in terms of gaining more confidence towards cutting rates. The full transcript can be found here (may be gated).
