New York Fed President John Williams said the three rate cuts last week “positioned us well to keep the economy growing above trend”. The economy is in a “very, very good place” and he expected 2020 growth would be “about the same” as the 2.25% last year. Also he sees inflation picking back up to close to 2%.

Nevertheless, some risks persist including ongoing global slowdown, persistently low inflation, as well as the Wuhan coronavirus outbreak in China.

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