NEW YORK - New York Federal Reserve President John Williams said on Thursday the strong state of the U.S. economy means there's no pressing case to lower interest rates right now.
"My expectation is, as inflation gets all the way to 2% on a sustained basis, as the economy is in good balance, interest rates will need to be lower at some point," he said, adding that "the timing of that is driven by the economy." Williams noted the path to getting inflation back to target has been "a little bit of a bumpy road" even as the overall trend has been toward weaker price pressures.
The inflation landscape has even raised questions of whether the Fed may have to hike rates again to ensure price pressures ebb. Williams said that appears unlikely but noted that it was impossible to rule out. The former president's onetime right-hand man pointed out Trump's history when it comes to marking his children's educational milestones.House hearing turns into chaos as Republican chairman challenged over Biden ‘corruption’ smear: ‘No, you need therapy!’Jordan Klepper Has Mind-Melting Encounter With Trump Supporters Outside NY Trial