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Fed's Williams says next Fed move likely to be lower rates

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May 6 - Federal Reserve Bank of New York President John Williams said Monday that at some undefined point the U.S. central bank will lower its interest rate target.

The comments Monday followed last week's Federal Open Market Committee meeting. There, officials maintained their overnight target at between 5.25% and 5.5%, while signaling it's likely to stay there for some undefined period while they seek out additional evidence inflation is retreating back to target.

 

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