Fed’s Williams Says It’s Appropriate to Cut Rates Over Time

Federal Reserve Bank of New York President John Williams said his forecast is that it will “become appropriate” to cut interest rates “over time,” without clarifying the timing or pace of such moves.

“Looking ahead, if progress on our dual mandate goals continues as in my baseline forecast, I anticipate it will become appropriate to move interest rates toward a more neutral stance over time,” Williams said Thursday in remarks prepared for an event organized by the Economic Club of New York.