New York Federal Reserve Bank president John Williams said on Thursday that, in his view, the monetary policy is restrictive and is in a good place and he doesn't see the need for a rate cut in the near term. The official added that he doesn't see any need to raise interest rates today as well.
Williams admitted that the U.S. April CPI was kind of a positive development for inflation dynamics and the overall trend for slowing inflation looks good. However, he acknowledged that he still lacks confidence that inflation is moving sustainably to the 2% goal.
The official also noted that the U.S. jobs market is still tight but excesses are eliminating, and the overall economy remains on a solid footing and is moving into better balance.