Fed’s Williams didn’t rule out the possibility of cutting rates in early 2024 – NYT
|Speaking in an interview with the NewYork Times on Monday, John C. Williams, President of the Federal Reserve Bank of New York said he expects that interest rates could begin to come down next year.
Additional takeaways
“Inflation was coming down as hoped, and that while he expected unemployment to rise slightly as the economy cooled.“
“Did not rule out the possibility of lowering rates in early 2024, depending on economic data.”
“In my own projection, my own forecast, I expect that the unemployment rate will rise above 4% next year.”
Market reaction
Williams’ comments seem to have little to no impact on the Greenback, at the moment. The US Dollar Index is flirting with intraday highs near 102.30, up 0.30% on the day, at the press time.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.