"I do think we're going to need to keep restrictive policy in place for some time; I would expect that to continue through at least next year," Williams said at a virtual event held by the Economic Club of New York, noting that borrowing costs need to rise to bring down overly high levels of inflation. "I do see a point probably in 2024 that we'll start bringing down nominal interest rates because inflation is coming down.
While Williams pointed to some signs of progress in bringing down inflation, he said interest rates needed to rise further. Williams is vice chair of the rate-setting Federal Open Market Committee, which holds its next policy meeting on Dec. 13-14. The Fed has pushed through oversized 75-basis-point rate increases at its last four policy meetings, bringing the target rate to the current 3.75%-4.00% range.
Williams did not offer any guidance on his preferred size for the rate hike at next month's meeting, or for the ultimate destination of the federal funds rate, which most policymakers in September thought would be between 4.5% and 5.0%.
1 year to flatten the curve... LOL
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lancia Design Day heralds start of a new eraLancia is back! A new logo, a new philosophy and new cars coming, too. Hopefully they'll have wheels 🛞 It looks like something a 13 year old makes as their first 'cool' render in Blender. With no thought behind it bar that at all. Lancia delta integrale! The best cars for rally!! Mickey Biasion the best Pilot!! Looks like a pc mouse
Source: PistonHeads - 🏆 553. / 51 Read more »
Fed's Williams sees no rate cuts until 2024Reuters reported that the New York Federal Reserve Bank President John Williams on Monday said that he believes the Fed will need to raise rates to a
Source: FXStreetNews - 🏆 14. / 72 Read more »
Holocaust denier Nick Fuentes turns on Trump, calls for new 2024 candidateFuentes has criticized the former president after he attended dinner with him at his Mar-a-Lago resort on Tuesday night. Omg, someone more far-right and racist than Desantis...we just may get a Boebert or the like for our next president. Who the f is NickFuentes and why should we even care? So it turns out newsweek is a Trump hater channel,willing to tell lies and look stupid while being hypocrites authentic same time
Source: Newsweek - 🏆 468. / 52 Read more »
Trump’s ex-national security adviser John Bolton calls him “old and tired” for GOP’s 2024 hopesFormer President Donald Trump's one-time national security adviser John Bolton called his ex-boss 'old and tired,' encouraging the GOP to support someone new for 2024. Old and tired really describes Bolton!!! Who is he kidding? Walrus turns on Orangutan. Swamp creature
Source: WashTimes - 🏆 235. / 63 Read more »
VW's New CEO Admits Its New Infotainment Is Bad, Vows To Fix It ASAP | CarscoopsThomas Schäfer promises software updates in the coming weeks and hardware improvements by 2024 It’s bloody awful Fun time ahead.
Source: Carscoop - 🏆 306. / 63 Read more »
Elon Musk Backs Ron DeSantis in 2024Elon Musk, the CEO of Tesla, SpaceX, and now Twitter, has said he would support Ron DeSantis in a 2024 presidential primary, although it is still unclear if the Florida governor intends to run. Trump 2024 He said support and did not specify for what.
Source: BreitbartNews - 🏆 610. / 51 Read more »