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MNI BRIEF: Fed's Williams Says Rate Cuts Later This Year

(MNI) WASHINGTON

New York Fed president says in Axios interview further rate hikes are not in his baseline outlook.

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New York Fed President John Williams said he expects the central bank to begin rate cuts likely later this year, and it is not his base case to tighten policy further, according to an interview published Friday.

"At some point, I think it will be appropriate to pull back on restrictive monetary policy, likely later this year," said Williams, the vice chair of the FOMC, in an interview with Axios. "But it's really about reading that data and looking for consistent signs that inflation is not only coming down, but is moving towards that 2% longer-run goal." (See: MNI INTERVIEW: FOMC In No Rush To Cut Rates - ExVC Kohn)

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New York Fed President John Williams said he expects the central bank to begin rate cuts likely later this year, and it is not his base case to tighten policy further, according to an interview published Friday.

"At some point, I think it will be appropriate to pull back on restrictive monetary policy, likely later this year," said Williams, the vice chair of the FOMC, in an interview with Axios. "But it's really about reading that data and looking for consistent signs that inflation is not only coming down, but is moving towards that 2% longer-run goal." (See: MNI INTERVIEW: FOMC In No Rush To Cut Rates - ExVC Kohn)