New York Federal Reserve President John Williams declared on Thursday that he feels no urgency to cut rates, according to Reuters.
Key points
“The Fed relies on data and the data has been very good.”
“We have a strong economy.”
“The Fed's interest rates have not slowed the economy much.”
“Economic imbalances have been reduced.”
“Monetary policy is in a good moment.”
“I don't feel any urgency to lower rates.”
“At some point interest rates will have to be lowered.”
“The rate cut will be determined by economic activity.”
“Fed rate hikes are not my baseline forecast.”
“If the data called for higher rates, the Fed would hike.”
Market reaction
The US Dollar Index did not react to these comments and rose 0.1% on the day, up to 105.95 points.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
