NY Fed President John Williams was out with some comments in the last hour, saying that he doesn’t see worrying signs of inflation pressure and the Fed needs prudence, patience and good judgment.
Williams foresees US GDP growth to be around 2.0-2.5% in 2019 vs 3.0% in 2018 amid emerging headwinds like the partial US government shutdown and geopolitical uncertainty.
Labor market remains strong and high growth would warrant somewhat higher rates, though is now closer to normal. Williams doesn’t see worrying signs of inflation pressure but said that motto of data dependence more relevant than ever.
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