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Williams - Three Rate Cuts In 2024 A Reasonable Starting Point

FED
  • NY Fed’s Williams (voter) tells media that three rate cuts in 2024 is a “reasonable starting point” (three cuts being the median dot from the December SEP).
  • He specifically notes that rate cuts don’t need to be tied to the quarterly Fed forecasts, whilst the rate cut pace is to depend on data and not be calendar-based.
  • It builds on a Q&A just earlier in which he only wanted to clarify that the Fed can think about rate cuts "later" this year.
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