NY Fed Pres. Williams is speaking on the economy and says:
- Job growth is moderating
- Fed is looking at totality of economic data.
- Eventually there will be rate cuts
NY Fed Pres. Williams is a permanent voting member on the FOMC board.
More from Feds WIlliams:
- Balance sheet wind down has gone smoothly
- Balance sheet drawdown haven’t affected markets.
- Consumers still spending, sees GDP 2% – 2.5% range this year.
- Real wages are improving
- Sees signs of more consumer caution on spending
- Economy is still healthy but is growing more slowly