In an event overnight, New York Fed President John Williams provided said the economy remains robust, with expectations for continued positive growth and a gradual decrease in inflation. His asserted that three rate cuts within the year could serve as a “reasonable starting point”.
Williams highlighted the significant decline in inflation over the past year and a half, emphasizing the “broad-based” reductions across various components of inflation measurements. Despite the positive trend, Williams candidly acknowledged “we still have a ways to go on the journey to sustained 2% inflation.”
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