Fed's Williams: Eventually there will be rate cuts
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Joshua Gibson
webinar date
06 May @ 05:07 (GMT+0)

Fed's Williams: Eventually there will be rate cuts

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.