“I definitely don’t feel urgency to cut interest rates”, given the strength of the economy, New York Fed president Williams said.
FEDERAL Reserve (Fed) policymakers have coalesced around the idea of keeping borrowing costs where they are until perhaps well into the year, given slow and bumpy progress on inflation, and a still-strong US economy.
On Thursday, New York Fed president John Williams became the latest US rate-setter to embrace the “no rush” on rate cuts view articulated in February by Fed governor Christopher Waller and since echoed by many of his colleagues.“I definitely don’t feel urgency to cut interest rates”, given the strength of the economy, Williams said at the Semafor’s World Economy Summit here.
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