![]() ![]() ![]() "In my forecast I see a need to keep a restrictive stance of policy in place for quite some time to make sure we really bring inflation down from 4 percent all the way to 2 (percent). ![]() Many participants in financial markets reckon the Fed will refrain from raising rates at its June 13-14 policy meeting, and traders are pricing in the strong possibility the U.S. The central bank also signaled that after just over a year of aggressive rate hikes, it may be done, or close to it, with the rate rises. Williams' remarks on the outlook for interest rates marked his first public comments since the Fed last week raised its benchmark overnight interest rate by a quarter of a percentage point to the 5.00%-5.25% range. "We've made incredible progress" in taking action to lower overly high levels of inflation, but "if additional policy firming is appropriate, we'll do that," he said. "We haven't said we are done raising rates" and Fed officials have not yet decided what lies ahead with possible increases in short-term borrowing costs, Williams said at an Economic Club of New York gathering. ![]() central bank is done raising interest rates, arguing that if more action is needed policymakers won't hold back. NEW YORK, May 9 (Reuters) - New York Federal Reserve President John Williams said on Tuesday it is too soon to say whether the U.S. ![]()
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