Federal Reserve Bank of New York President John Williams said US monetary policy is “in a good place,” but officials will need to parse through data to decide on how to proceed on interest rates.
“We’ve got policy in a good place, but we’re going to need to continue to be data-dependent,” Williams said Thursday during a moderated discussion with Bloomberg TV reporter Michael McKee at Bloomberg LP’s headquarters in New York.
“We’ll have to keep watching the data carefully analyzing all of that and really asking ourselves the question: is this sufficiently restrictive,” he said. “Do we need to maybe raise rates again to make sure that we’re keeping that steady progress in terms of shrinking imbalances in the labor market and bring inflation back down?”
Investors expect the Fed to hold rates steady again when officials meet on Sept. 19-20, according to pricing in futures markets. Policymakers will have more economic data to review before then, including fresh readings on inflation.
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