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Fed's Williams: We need to watch retail sales, CPI data
Federal Reserve Bank of New York President John Williams remarked on Tuesday that the central bank has brought the monetary policy to a "restrictive stance" and that, for any future decisions, it should monitor retail sales, inflation and other data.
"We will see what we need to do on hikes by assessing the data," Williams told Yahoo Finance. "One more rate hike is a reasonable starting place but we will be driven by the data. ... If inflation comes down, we will have to lower rates." Commenting on the labor market, he noted "some slowing in demand for labor," but insisted that "job growth is still quite strong."
Earlier this week, Williams predicted inflation will go back to its target of 2% by 2025 and previously go down to around 3.75% in 2023.
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