Federal Reserve Will ‘Eventually’ Cut Interest Rates: NY Fed’s John Williams

The Federal Reserve will “eventually” cut interest rates as the central bank continues to inch toward achieving its inflation target of 2 percent, New York Fed President John Williams told a prominent event on Monday. Appearing at the Milken Institute 202 Global Conference in Beverly Hills, California, Mr. Williams soothed financial markets and dismissed any concerns about a rate hike. Instead, he explained that monetary policy is in a “very good place” and sufficient to fend off inflation even as the data suggest a reacceleration. The regional central bank chief refrained from offering a timeline for when his colleagues could agree to a lower benchmark interest rate....