Interest rate expectations from New York Fed President

New York Fed President John Williams is predicting possible rate cuts in 2024. New York Fed President John Williams said rate cuts could happen next year if the data is favorable. In an interview with the New York Times, Williams said he was encouraged by what he saw on the inflation front and thought there might be room to ease policy tightening. “To me, I think maintaining a restrictive stance could require lowering the federal funds rate next year or the year after, but the real issue is not nominal rates, but how we affect real interest rates,” Williams said. Williams also hinted that the Fed could raise interest rates because policy is “pretty close to what the peak rate is going to be.”