John C. Williams, President of the Federal Reserve Bank (Fed) of New York, jumped into the media during a speech delivered Monday at the Milken Institute World Conference in Beverly Hills. Williams, President of the New York Fed, is a voting member of the Federal Open Market Committee (FOMC), the Fed's main body responsible for interest rate decisions.
Key points:
- “Eventually there will be rate cuts.
- “I think job growth is moderating.”
- “The Fed looks at all the economic data.”
- “The monthly inflation data are worrying.”
- “The Fed's balance sheet reduction has gone smoothly.”
- “I forecast GDP between 2.0% and 2.5% in 2024.”
- “I expect good GDP growth, although somewhat slower.”
- “There are signs of greater caution in consumer spending.”
- “The economy remains in good health, but growing more slowly.”
- “The increase in public debt translates into somewhat higher global interest rates.”
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.
