John Williams, president and chief executive officer of the Federal Reserve Bank of New York, during the Market Forum: FX in Focus event in New York, on Thursday, Sept. 7, 2023.
Victor J. Blue | Bloomberg | Getty Images
New York Federal Reserve President John Williams said Friday rate cuts are not a topic of discussion at the moment for the central bank.
“We aren’t really talking about rate cuts right now,” he said on CNBC’s “Squawk Box.” “We’re very focused on the question in front of us, which as chair Powell said… is, have we gotten monetary policy to sufficiently restrictive stance in order to ensure the inflation comes back down to 2%? That’s the question in front of us.”
The Fed on Wednesday held its key interest rate steady for the third straight time and set the table for multiple cuts to come in 2024 and beyond.
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