© Reuters Investing.com – Fed member Williams said that the Fed may be heading to cut rates later this year, and this will be proportionate to the current economic conditions.
New York Fed President John Williams sees the US central bank on track to cut interest rates “later this year,” despite stronger-than-expected readings on inflation and the labor market in January, according to an interview published by Axios on Friday. . .
“My overall view of the economy is basically unchanged based on one month’s data,” Williams said in an interview Thursday, noting that inflation’s progress toward the Fed’s 2% target could be “a little bit difficult.”
“At some point, I think it will be appropriate to step back from restrictive monetary policy, probably later this year,” Williams said. While a major, fundamental change in the economic outlook may require a rethink, he said, “Raising interest rates is not my base case,” Axios reported.
As a result of these statements, prices rose by 0.87%, reaching the level of $2,048 per ounce. While prices reached 2,038, an increase of 0.71%.
While the American fell to record 103.825, with a slight decrease of 0.05%.
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2024-02-23 18:23:00
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