Fed's Williams: No urgency to cut rates
New York Federal Reserve President John Williams said on Thursday that he doesn't feel an urgency to cut rates, per Reuters.
Key takeaways
Fed is data dependent and the data have been very good."
"We have a strong economy."
Fed rates haven't caused the economy to slow too much."
"Economic imbalances have been reduced."
"Monetary policy is in a good place."
"I don't feel urgency to cut rates."
"Eventually interest rates will need to be lower."
"Rate cuts will be determined by economic activity."
"Fed rate hikes are not my baseline forecast."
"If data called for higher rates, Fed would hike."
Market reaction
The US Dollar Index showed no reaction to these comments and was last seen rising 0.1% on the day at 105.95.
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