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Fed’s Williams Still Expects Rate Cuts to Begin This Year
Federal Reserve Bank of New York President John Williams said the central bank will likely start lowering interest rates this year if inflation continues to gradually come down. Williams said monetary policy is in a good place, and pointed to the enduring strength of consumers and the broader economy. “We will need to start a process at some point to bring interest rates back to more normal levels, and my own view is that process will likely start this year,” Williams said Monday in an interview with Bloomberg Television’s Michael McKee. A key inflation measure rose by more than economists expected for a third ... (full story)