New York Federal Reserve President Williams: There is no urgency for further rate cuts, data shows some distortion

New York Federal Reserve President John Williams stated that, given the recent employment and inflation data, the Federal Reserve currently does not have an urgency to further cut interest rates. He pointed out that previous rate cuts have positioned policy favorably, and although the data has been distorted due to the government shutdown, core inflation continues to approach the 2% target, and the labor market adjustment is stable. The market expects a low probability of rate cuts in the first half of next year, with a likelihood of about 50% for a rate cut in June