Fed's Williams: Slowing job growth and easing inflation risks support Fed rate cuts

Odaily Planet Daily reports that Federal Reserve Chairman Williams stated that a cooling labor market and easing inflation risks provided a basis for the Fed's decision to cut interest rates last week. This was Williams' first public comment on last week's rate cut. He stated that he is increasingly convinced that price increases will continue to slow. Williams said that inflation is "temporarily hovering" above the Fed's target, but he believes that inflation may continue to decline as the effects of tariffs are absorbed by the broader economic system next year. At the same time, he stated that while the employment situation has not deteriorated sharply, it is gradually cooling, as reflected in official data and consumer and business surveys. Williams stated that, taken together, these changes in pressure on the Fed's two main economic goals supported last week's rate cut decision. (Jinshi)