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 NY Fed Pres. Williams: Rate cut path depends on data
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NY Fed President Williams stated that the rate cut path will depend on data and that the US economy is doing well and in better balance. He emphasized that the Fed's decision will depend on the economy and that things are moving in the right direction for monetary policy. Williams expects interest rates to come down gradually as inflation eases and stated that politics will not influence the Fed's decision. He mentioned that the recent inflation data has been encouraging and expects inflation to continue to come down. Williams also mentioned that the Fed will get inflation down to 2% and that the labor market is still strong, although hiring is slowing. In the US stock market, the Dow Industrial Average is up 20 points, the S&P is up four points, and the NASDAQ index is up 32.25 points in premarket trading. The stock levels are off their highs, but the NASDAQ and S&P closed at record high levels yesterday.

#NyFed #InterestRates #UsEconomy #Inflation #MonetaryPolicy

https://www.forexlive.com/centralbank/ny-fed-pres-williams-rate-cut-path-depends-on-data-20240618/