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John Williams says there is no urgency for the next Fed move

He said any further upward adjustment could be appropriate late this year if conditions track the Fed’s outlook.

Reported · Written up by our desk · Central Banks

Federal Reserve Bank of New York President John Williams said there is no need for urgency after the Fed’s September rate increase, adding that any additional upward adjustment may be appropriate late this year if the economy evolves broadly in line with his forecast, according to Action Forex.

Williams’ remarks suggested the Fed could wait for more evidence before deciding when to move again, while markets responded by scaling back expectations for an October rate hike.

Action Forex also noted that Federal Reserve Governor Michael Barr maintained a more hawkish stance, saying high energy prices and strong AI-related investment have knocked the Fed off course in returning inflation to 2%, and that he does not yet see a clear trend toward a timely return to target.

Barr said that with growth strong and the labor market still solid, further policy adjustments are likely to be needed to restore price stability.

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