Lisa Cook sues Trump over firing attempt, emergency hearing set
Investing.com -- New York Federal Reserve Bank President John Williams indicated on Wednesday that interest rates could decrease at some point, but emphasized that upcoming economic data will determine if a rate cut is appropriate at the September 16-17 meeting.
"Every meeting is, from my perspective, live" for a change in the benchmark policy rate, Williams stated during a CNBC interview. He added that "risks are more in balance. We are going to just have to see how the data play out."
Before the next Federal Reserve meeting, policymakers will receive fresh jobs data and new consumer price inflation information. These reports could significantly influence whether the central bank decides to cut rates by a quarter percentage point from the current 4.25% to 4.5% range, which has remained unchanged since December.
When asked about allegations made by President Donald Trump against Fed Governor Lisa Cook, Williams declined to comment directly. He did say of Cook that "she has always brought integrity and a commitment to the Federal Reserve’s mission."
Without specifically addressing Trump’s attempt to remove Cook from her position, which appears headed for legal proceedings, Williams highlighted the importance of the Fed’s independence, noting that "the structure of the Federal Reserve is...designed to have independent policymakers who are making decisions that affect the economy over the longer term, away from short-term political pressure. And I think that’s really, really important."
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