Monday, March 4, 2024
HomeEconomyFed's Williams: No rate cut expected next year

Fed's Williams: No rate cut expected next year

(Reuters) – New York Federal Reserve Bank President John Williams said on Tuesday he believes the central bank will raise policy rates enough to limit growth and reduce inflation, and Will then need to keep it there until the end of 2023.

“From my standpoint right now, I think we need to maintain a policy stance — keeping inflation down and aligning demand and supply — which will take longer and will last until next year,” Williams told the Wall Street Journal. “Based on what I’m seeing in the inflation data, and what I’m seeing in the economy, I expect it will take a while for rates to come down.”

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