Fed's Williams: Eventually there will be rate cuts

Joshua Gibson FXStreet

John C. Williams, President of the Federal Reserve (Fed) Bank of New York hit newswires during a speech a t the Milken Institute Global Conference in Beverly Hills on Monday. NY Fed President Williams is a voting member of the Federal Open Market Committee (FOMC), the Fed's key body responsible for interest rate decisions.

Key highlights:

Eventually there will be rate cuts.
Williams is seeing job growth moderating.
Fed is looking at totality of economic data.
It is worrisome when monthly inflation prints come in higher.
Fed balance sheet wind-down has gone smoothly.
Consumers are still spending, Williams sees GDP in the 2.0-2.5% range in 2024.
Expects good though somewhat slower GDP growth.
Seeing signs of more consumer caution on spending.
Economy is still healthy, but is growing more slowly.
Higher government debt means somewhat higher global rates.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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