Lates News

New York Fed President Williams (who holds a permanent vote on the FOMC and is known as the Fed's third-ranking official) said that if the economy meets expectations, there may be one more rate hike this year; bringing inflation back to the 2% target is crucial. He also said that after the September rate hike, "there is no need to act in a hurry." Fed policy can ensure that supply shocks do not persist for long; he expects U.S. GDP to grow 2.25% this year, and the unemployment rate to be 4% in 2027; he expects this year's inflation rate to be 3.5%, reaching the 2% target in 2028.