Fed’s Williams didn’t rule out the possibility of cutting rates in early 2024 – NYT

Dhwani Mehta FXStreet

Speaking in an interview with the NewYork Times on Monday, John C. Williams, President of the Federal Reserve Bank of New York said he expects that interest rates could begin to come down next year.

Additional takeaways

“Inflation was coming down as hoped, and that while he expected unemployment to rise slightly as the economy cooled.“

“Did not rule out the possibility of lowering rates in early 2024, depending on economic data.”

“In my own projection, my own forecast, I expect that the unemployment rate will rise above 4% next year.”

Market reaction

Williams’ comments seem to have little to no impact on the Greenback, at the moment. The US Dollar Index is flirting with intraday highs near 102.30, up 0.30% on the day, at the press time.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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