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NY Fed's Williams calls Fed rate cut premature
New York Fed President John Williams states it's still too soon to consider cutting interest rates, citing growing inflationary pressures from US import tariffs.
Williams notes that President Trump’s trade policies currently have a modest impact on economic data. However, he expects this effect to grow stronger in coming months. The official estimates US inflation could rise by about 1 percentage point in late 2024 and early 2025.
The US Core Consumer Price Index (CPI) remains steady around 2.75%. Williams predicts GDP growth will slow to about 1% this year. He believes the Fed’s current policy of keeping rates at 4.25–4.50% still looks right for current conditions.
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