New York Fed President: Future interest rate path direction is uncertain, not too concerned about persistent inflation.

John Williams, President of the New York Federal Reserve, stated that the monetary policy of the United States is currently in the right place and there is no clear direction for future interest rate moves. "Monetary policy is currently in exactly the right place, and I see no need to raise or lower interest rates," Williams said in an interview on Wednesday. "I also don't see which direction we will go in the future." Federal Reserve policymakers are expected to meet in Washington on June 16-17. Under the leadership of the new chairman, Kevin Wash, it is expected that they will discuss whether to modify the wording of the post-meeting statement. Many officials hope to remove language from the statement that implies the next move could still be a rate cut. Williams pointed out that inflation remains stubbornly high, with upward pressure on prices coming from energy prices, tariffs, and investments related to AI. However, he also noted that there has been a "considerable degree" of slowing in service inflation.