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Central Banks

Fed Officials Say More Rate Hikes Coming; Williams Flags Path to Cuts

  • Williams says rates could come down in 2024 as inflation falls
  • Bullard says markets are underpricing chance of higher rates
Bloomberg business news
WATCH: Richmond Fed President Barkin discusses inflation and monetary policy. supply shocks, and the central bank’s balance sheet.Source: Bloomberg
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Federal Reserve policymakers stressed on Monday that they will raise borrowing costs further to curb inflation, with one key official saying that he sees interest rates heading somewhat higher than he had forecast just a couple of months ago.

“Stronger demand for labor, stronger demand in the economy than I previously thought, and then somewhat higher underlying inflation, suggest a modestly higher path for policy relative to September,” New York Fed President John Williams told reporters Monday after an event hosted by the Economic Club of New York. “Not a massive change, but somewhat higher.”