MNI BRIEF: China To Hold Key Third Plenum On July 15-18

MNI Brief: China Third Plenum To Deepen Reforms

MNI: PBOC Net Injects CNY80 Bln Via OMO Thurs; Rates Unchanged

CHINA PBOC CONDUCTS CNY100 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Higher At 7.1270 Thurs; -0.78% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1270 THURS VS 7.1248

Sentiment Improves In June, But Riksbank In Focus

LFS Unemployment Trend Rate Steady, But Falls In SA Terms

ANZ Business Sentiment Mixed, Price Measures Trending In The Right Direction

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI: Williams Says Fed Rates Are Well-Positioned

FED
Credit BulletsEM BulletHomepagemarkets-real-timeCommoditiesEmerging Market NewsMetals bulletCreditEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • New York Fed President John Williams on Thursday said he expects inflation to moderate in the second half of this year and repeated the FOMC's promise in May that officials would not cut interest rates until they have gained greater confidence that inflation is moving sustainably toward 2%.
  • "I see the current stance of monetary policy as being well positioned to continue the progress we’ve made toward achieving our objectives," said Williams in prepared remarks. "It goes without saying that the outlook is uncertain. The risks are two-sided, with geopolitical events and China’s growth outlook prominent examples."
  • Williams said monetary policy is restrictive when considered in a broader context, rather than simply "looking at the growth rate of the economy, or comparing the interest rate to its longer-run level or r-star."
  • "The behavior of the economy over the past year provides ample evidence that monetary policy is restrictive in a way that helps us achieve our goals," he said. "We are seeing clear and consistent signs that the imbalances between supply and demand in the economy are receding. And we have seen a broad-based decline in inflation."
184 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • New York Fed President John Williams on Thursday said he expects inflation to moderate in the second half of this year and repeated the FOMC's promise in May that officials would not cut interest rates until they have gained greater confidence that inflation is moving sustainably toward 2%.
  • "I see the current stance of monetary policy as being well positioned to continue the progress we’ve made toward achieving our objectives," said Williams in prepared remarks. "It goes without saying that the outlook is uncertain. The risks are two-sided, with geopolitical events and China’s growth outlook prominent examples."
  • Williams said monetary policy is restrictive when considered in a broader context, rather than simply "looking at the growth rate of the economy, or comparing the interest rate to its longer-run level or r-star."
  • "The behavior of the economy over the past year provides ample evidence that monetary policy is restrictive in a way that helps us achieve our goals," he said. "We are seeing clear and consistent signs that the imbalances between supply and demand in the economy are receding. And we have seen a broad-based decline in inflation."