Williams, speaking at a Wall Street Journal events, said the
prospect of a lower federal funds rate next year is driven
mostly by monetary policy adjusting to a weaker inflation
environment. He said that overall, however, monetary policy will
need to be restrictive of growth for a few years, which he
doesn't see as being in conflict with lower future rates.
(Reporting by Michael S. Derby)
NEW YORK, Feb 8 (Reuters) - New York Federal Reserve
President John Williams said his expectations of future central
bank rate cuts is driven mostly by a need to respond to the
likelihood of lower levels of inflation in the future.
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