Fed’s Williams Repeats Rate Cuts Likely Coming Later This Year
- Want inflation back to 2% sustainably, says New York Fed chief
- Will move interest rates ‘back to more normal levels,’ he says
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Federal Reserve Bank of New York President John Williams said he doesn’t see a need for officials to tighten policy further and reiterated that he expects the central bank to cut rates later this year.
Williams acknowledged that inflation has retreated from multi-decade highs, but he emphasized officials want to see inflation return to 2% and remain there on a sustained basis.