Fed’s Williams: Ready to start process of rate cuts


 Federal Reserve Bank of New York President John Williams said on Friday that they are ready to start the process of rate cuts, per Reuters.

Key takeaways

"Monetary policy can be moved to more neutral stance depending on data."

"Fed policy has been effective in restoring price stability."

"Job market in better balance, not main source of inflation."

"Risks to outlook include further weakening in jobs market."

"Risk to economy includes slowing global growth."

"US GDP likely 2%-2.5% for this year."

"Unemployment rate likely around 4.25% by year-end."

"Longer run expects unemployment to settle around 3.75%."

"Expecting more inflation cooling, inflation at 2.25% this year, near 2% next year."

"Confidence rising that inflation pressures are ebbing."

"Inflation expectations remain well anchored."

"Unemployment rate still low despite rise."

"Cooling in job market retreat from overheated conditions."

Market reaction

The US Dollar Index showed no reaction to these comments and was last seen trading flat on the day at 101.05.

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

AUD/USD remains supported by 0.6700

AUD/USD remains supported by 0.6700

AUD/USD traded on the back foot, adding to Monday’s decline, although meeting decent contention around the 0.6700 barrier on Tuesday, all against the backdrop of a tepid upside bias in the US Dollar.

AUD/USD News
EUR/USD now targets the 200-day SMA

EUR/USD now targets the 200-day SMA

Extra weakness dragged EUR/USD to levels last seen in August around 1.0880 in response to the still unabated march north in the Greenback and rising cautiousness ahead of the ECB’s rate decision later in the week.

EUR/USD News
Gold holds on to modest gains around $2,660

Gold holds on to modest gains around $2,660

Gold clings to small gains above $2,650 on Tuesday after closing the first day of the week virtually unchanged. Growing signs of an economic downturn in the Chinese economy makes it difficult for XAU/USD to gather recovery momentum.

Gold News
XRP back above $0.54 as Ripple makes key announcements at Swell 2024

XRP back above $0.54 as Ripple makes key announcements at Swell 2024

Ripple (XRP) holds steady above key support at $0.54 on Tuesday as payment remittance firm Ripple makes announcements regarding exchange partners for its stablecoin RLUSD that is in the final stages of its launch.

Read more
RBA widely expected to keep key interest rate unchanged amid persisting price pressures

RBA widely expected to keep key interest rate unchanged amid persisting price pressures

The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.

Read more
Five best Forex brokers in 2024

Five best Forex brokers in 2024

VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals. 

Read More

Forex MAJORS

Cryptocurrencies

Signatures