July 7 (Reuters) – Federal Reserve Bank of New York President John Williams \u200bsaid in a television interview on Tuesday he has grown a little less worried about the state of \u200cprice pressures in the economy.<\/p>\n
\u201cInflation is still too high,\u201d Williams said in an interview on Fox Business\u2019 Mornings with Maria program. But, \u201cI do feel a little bit more positive about the near-term inflation outlook because of the energy price declines that we’re going to \u200bsee.\u201d<\/p>\n
“We definitely have seen a big decline in oil prices, not only, you know, the current \u200boil prices, but future expected oil prices,” Williams said, adding that he expects energy prices \u2060to “come down quite a bit and that will bring headline inflation down.”<\/p>\n
Williams however stopped short of saying that \u200bhas changed the monetary policy stance he’s held for some time now.<\/p>\n
“Monetary policy is well positioned…to achieve our maximum employment \u200band price stability goals,” Williams said, refraining from providing any guidance on whether the central bank’s next rate move is up or down.<\/p>\n
The Fed met last month in a policy gathering that left its overnight target rate range unchanged at between 3.5% and \u200b3.75%. New Fed Chairman Kevin Warsh has steadfastly refused to provide any guidance about what’s next for interest rate \u200bpolicy and has even held back on explaining how he thinks monetary policy should react to incoming data, believing markets should \u200cset their \u2060own path.<\/p>\n
A number of Fed officials have been eying the possibility of a rate hike given the persistence of inflation above the 2% target. Some pressure to increase rates, however, has faded on the uneasy ceasefire that has followed the hot phase of the U.S.-Israeli war on Iran.<\/p>\n
That conflict roiled global energy prices and supply chains, \u200bbut some of that pressure \u200bhas been easing as \u2060the U.S. and Iran try to negotiate a settlement.<\/p>\n
When thinking about what’s next for the Fed, Williams said “it really depends on what happens with the data” and the \u200brisks to the outlook. “Right now, I think policy is in a good place. We’ve \u200bjust got to \u2060see how the economy evolves over coming months.”<\/p>\n
Williams said in the interview the economy continues to grow solidly and that risks around the job market have stabilized.<\/p>\n
The New York Fed leader also said he did not plan to change his \u2060communications style \u200bunder Warsh.<\/p>\n
“I regularly give my views on the economic data, the \u200boutlook, and how I see monetary policy, not so much forward guidance” but how interest rate policy is positioned relative to the Fed’s goals. “I \u200bplan to continue to do that,” Williams said.<\/p>\n
Reporting by Michael S. Derby; Editing by Andrew Heavens and Andrea Ricci<\/p>\n
Disclaimer:\u00a0The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and\/ or damages arising from the use of this publication.<\/p>\n","protected":false},"excerpt":{"rendered":"July 7 (Reuters) – Federal Reserve Bank of New York President John Williams \u200bsaid in a television interview…\n","protected":false},"author":2,"featured_media":784956,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,5307,5294,99,5299,5301,5293,5304,5297,164,5295,5298,5305,5284,5306,5296,5283,5308,5290,5309,5292,5287,5288,5286,5289,84,5291,5303,5310,5285,5302,5300],"class_list":["post-784955","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-bank-forecasts","tag-bitcoin-news","tag-business","tag-central-banks","tag-charts","tag-crypto-news","tag-currency","tag-economic-reports","tag-economy","tag-ethereum-news","tag-forecasts","tag-global-economy","tag-gold","tag-international-policy","tag-interviews","tag-kitco-news","tag-market-nugget","tag-metals","tag-mining-minutes","tag-mining-news","tag-palladium","tag-pgm","tag-platinum","tag-platinum-group-metals","tag-politics","tag-precious-metals","tag-rare-earth-metals","tag-roundups","tag-silver","tag-tech-metals","tag-us-dollar"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/784955","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=784955"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/784955\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/784956"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=784955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=784955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=784955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}