Central Banks
Fed’s Williams Says Interest Rates Need to Be Restrictive ‘for Some Time’
- New York Fed chief says US central bank will ‘stick at it’
- Rate cuts in coming years will depend on data, Williams says
John Williams
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
Federal Reserve Bank of New York President John Williams said interest rates will have to stay at restrictive levels “for some time” to bring inflation back down to the US central bank’s 2% target.
“We’re going to stick at it to make sure that we really achieve that goal of 2% on a sustained basis,” Williams said Wednesday during a moderated conversation at Queens College in New York. “We need to keep this restrictive stance of policy in place for some time.”