Fed's Williams: Expect the Fed to cut interest rates further

Odaily Odaily News: New York Fed President Williams said on Monday that the Fed may further lower its interest rate target as inflation pressures continue to cool. Speaking at a meeting of the Queens Chamber of Commerce in New York, Williams said: "Monetary policy remains in a restrictive range to support a sustainable return to the 2% target for inflation." Looking ahead, "I expect it will be appropriate to continue to shift to a more neutral policy setting over time," Williams said, adding that the policy path will depend on the data. If we have learned anything in the past five years, it is that the outlook remains highly uncertain. Williams did not give clear guidance on the timing of the rate cut and whether he thought the Fed would lower its interest rate target at this month's FOMC meeting.