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Story summary
- John Williams, president of the Federal Reserve Bank of New York, said there is no immediate need for further rate cuts, citing employment and inflation data.
- He stressed a balanced path to 2% inflation without harming the labor market.
- CPI data may be distorted by collection issues.
- Underlying inflation trends appear positive.
- Williams projected 2025 GDP growth between 1% and 1.5%, with expectations for improvement in 2026.
