Fed's Williams: Rate Cuts Still on Table, But No Urgency Yet

• Williams reiterates that the Fed will likely cut interest rates later this year as inflation comes down and the economy is in better balance • Sees no sense of urgency to cut rates, but wants to move them back to more normal levels • Does not believe the economy is creating conditions that would drive the Fed to hike rates again • If economic conditions change significantly, Williams would have to rethink interest rate outlook • U.S. economy has been very strong bouncing back from pandemic, showing remarkable resilience