Fed's John Williams: No Current Discussions on Rate Cuts

New York Federal Reserve President John Williams stated that rate cuts are not currently being discussed by the central bank, as their focus is on determining whether monetary policy is sufficiently restrictive to bring inflation back down to 2%. The Fed recently held its key interest rate steady and projected multiple rate cuts in the future. Williams emphasized that the Fed will remain data dependent and ready to tighten policy if inflation trends reverse. The Fed's projections indicate a decline in inflation over the next few years, with the core personal consumption expenditures price index expected to reach the 2% target by 2026.