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Fed’s Williams Says Interest-Rate Cuts Are ‘Likely Later This Year’
Federal Reserve Bank of New York President John Williams said the economy is headed in the right direction, and it will likely be appropriate to cut interest rates later this year. Speaking in an interview with Axios, Williams said officials want to see inflation data that continues to move toward the central bank’s 2% goal. “At some point, I think it will be appropriate to pull back on restrictive monetary policy, likely later this year,” Williams said in the interview published Friday. “But it’s really about reading that data and looking for consistent signs that inflation is not only coming down but is ... (full story)