John Williams, President of the New York Federal Reserve Bank, recently spoke at the Economic Club of New York. He mentioned that although interest rates are expected to decrease in the future, he is not ready to disclose the central bank's next move.

Williams emphasized that the current monetary policy is restrictive, which he believes is appropriate due to ongoing inflation pressures that exceed the 2% target. He also indicated that the Fed is moving towards a more neutral policy stance, contingent on incoming data aligning with his outlook.

Williams acknowledged the market's speculation about potential rate cuts at the upcoming policy meeting, as the central bank considers adjustments in response to easing inflationary pressures.