The post John Williams Signals Openness to Fed Rate Cut Ahead of September FOMC appeared on BitcoinEthereumNews.com. The president of the New York Federal Reserve, John Williams, is the latest Fed official to comment on the state of the economy and the possibility of a Fed rate cut ahead of the September FOMC meeting. He indicated that he might be open to a cut but warned that they have to figure out what is going on with the economy. John Williams Comments On Fed Rate Cut During a CNBC interview, the New York Fed president stated that they need to lower interest rates if inflation continues to cool and the economy remains balanced. This came as he noted that the current level of rates is “modestly restrictive,” indicating that there is room to reduce interest rates and still maintain a restrictive stance going forward. However, the New York Fed president remarked that incoming data will drive decisions as they assess the current state of inflation and the labor market, in an effort to achieve a balance of risks. His comment follows that of Fed Chair Jerome Powell, who signalled a Fed rate cut at the Jackson Hole conference last week. Powell had stated that the downside risks to employment were rising and that the shifting balance of risks may warrant them adjusting their policy stance. Williams appears to hold a different opinion, as he reiterated his belief that the labor market remains strong. The Fed president explained that indicators such as the unemployment rate, which remains at 4.2%, show that the labor market isn’t weakening as some argue. He suggested that market participants cannot base such an assumption solely on the nonfarm payrolls, which were way below expectations last month. It is worth mentioning that Williams is a voting member of the FOMC. As such, he could influence whether a Fed rate cut happens at the September… The post John Williams Signals Openness to Fed Rate Cut Ahead of September FOMC appeared on BitcoinEthereumNews.com. The president of the New York Federal Reserve, John Williams, is the latest Fed official to comment on the state of the economy and the possibility of a Fed rate cut ahead of the September FOMC meeting. He indicated that he might be open to a cut but warned that they have to figure out what is going on with the economy. John Williams Comments On Fed Rate Cut During a CNBC interview, the New York Fed president stated that they need to lower interest rates if inflation continues to cool and the economy remains balanced. This came as he noted that the current level of rates is “modestly restrictive,” indicating that there is room to reduce interest rates and still maintain a restrictive stance going forward. However, the New York Fed president remarked that incoming data will drive decisions as they assess the current state of inflation and the labor market, in an effort to achieve a balance of risks. His comment follows that of Fed Chair Jerome Powell, who signalled a Fed rate cut at the Jackson Hole conference last week. Powell had stated that the downside risks to employment were rising and that the shifting balance of risks may warrant them adjusting their policy stance. Williams appears to hold a different opinion, as he reiterated his belief that the labor market remains strong. The Fed president explained that indicators such as the unemployment rate, which remains at 4.2%, show that the labor market isn’t weakening as some argue. He suggested that market participants cannot base such an assumption solely on the nonfarm payrolls, which were way below expectations last month. It is worth mentioning that Williams is a voting member of the FOMC. As such, he could influence whether a Fed rate cut happens at the September…