John Williams, president of the Federal Reserve Bank of New York, on Wednesday, said that the monetary policy was “moderately accommodative” but added that the slowing global growth, muted inflation pressures were calling for a more accommodative policy.
“The labor market is really strong with low unemployment,” Williams said. “Fed officials have lowered view of what sustainable level of unemployment is based low inflation.”
The US Dollar Index is now unchanged on the day near 97.90. Below are some additional quotes, per Reuters.
“Inflation pressures are very muted today.”
“Job growth is still solid despite a slowdown in exports, business investment and the global economy.”
“Slowing global growth, muted inflation pressures argue for a more accommodative policy.”
“Three cuts we did were very effective at managing risks to the US economy.”
“The Fed will be data-dependent and preemptive going forward.”
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