“I expect it will be appropriate to continue to move to a more neutral policy setting over time,” Williams said Monday in remarks prepared for an event with the Queens Chamber of Commerce in New York. “The path for policy will depend on the data. If we’ve learned anything over the past five years, it’s that the outlook remains highly uncertain.”
Federal Reserve Bank of New York President John Williams said officials will likely need to lower rates further to move policy to a neutral stance now that risks to inflation and employment have become more balanced.
But Williams stopped short of saying whether he would back a rate cut when policymakers gather later this month, adding decisions will be made meeting by meeting.
