New York Federal Reserve Bank President John Williams said Thursday that concern...
NEW YORK/SAN FRANCISCO - New York Federal Reserve Bank President John Williams said Thursday that concerns about escalating trade tariffs and slowing global growth are boosting uncertainty and holding back business investment, but he is keeping an open mind on interest rates.
The Fed may leave interest rates where they are, and may need to “adjust” them, Williams said at an event organized by the Council on Foreign Relations in New York. Interest rates futures on Thursday implied traders expect the Fed may lower key lending rates by 75 basis points by year-end from its current target range of 2.25%-2.50%, based on CME Group’s FedWatch program.
Escalating trade risks have rattled stock markets and pushed 10-year Treasury yields below interest rates on three-month bills.
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