Fed’s Williams Suggests Rate Hikes May Already Be Finished
- Labor-market imbalances are easing, New York Fed chief says
- New York Fed publishes his remarks even as visit canceled
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Federal Reserve Bank of New York President John Williams suggested that the US central bank may be done raising interest rates, though he said policymakers would keep them high for “some time” to bring inflation down to the central bank’s 2% goal.
“My current assessment is that we are at, or near, the peak level of the target range for the federal funds rate,” Williams said Friday in remarks prepared for an event in Long Island, New York. “I expect we will need to maintain a restrictive stance of monetary policy for some time.”