"Federal Reserve's Path to Interest Rate Cuts and Inflation Targets"

Federal Reserve Bank of New York President John Williams reiterated that a rate cut is likely later this year, citing the need to bring interest rates back to more normal levels as inflation comes down and the economy balances. He emphasized the lack of urgency but expressed the need to gain confidence in cooling inflation. Williams does not foresee conditions for a rate hike and highlighted the economy's resilience amid the pandemic, echoing his previous speech.