Fed’s Williams Says There’s No Urgency for Further Rate Cuts

Federal Reserve Bank of New York President John Williams said there’s no urgency to cut interest rates again given recent employment and inflation data, reinforcing expectations for a pause after a string of recent reductions.

“I don’t personally have a sense of urgency to need to act further on monetary policy right now, because I think the cuts we’ve made have positioned us really well,” Williams said Friday during an appearance on CNBC. “I want to see inflation come down to 2% without doing undue harm to the labor market. It’s a balancing act.”