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New York Fed President Foresees US Interest Rates to Fall Below Current Levels by End-2025
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New York Fed President John Williams said in an interview with Barron's that he anticipated the US economy to grow by about 2.5% or slightly higher this year, while the labor market will maintain its current state or cool down a bit further, with last month's unemployment rate of 4.1% possibly rising to 4.25%. He also estimated inflation to gradually diminish, with annual inflation of around 2.25%. Given the cooling of the labor market over the past few years and the decline in inflation, the current monetary policy is clearly restrictive, rendering the last two rate cuts by the Fed very appropriate, Williams noted. In Williams' prediction, the US federal funds rate will be below the current level by the end of next year, but this will be subject to data and the progress of inflation reduction. AAStocks Financial News |
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