By Ann Saphir and Michael S. Derby
(Reuters) -Federal Reserve policymakers have coalesced around the concept of keeping obtaining expenses where they are till possibly well into the year, provided sluggish and rough development on inflation, and a still-strong U.S. economy.
On Thursday New York Fed President John Williams endedupbeing the newest U.S. rate-setter to accept the “no rush” on rate cuts view articulated in February by Fed Governor Christopher Waller and giventhat echoed by lotsof of his coworkers.
“I certainly puton’t feel seriousness to cut interest rates” offered the strength of the economy, Williams stated at the Semafor’s World Economy Summit in Washington. “I think ultimately…interest rates will requirement to be lower at some point, however the timing of that is driven by the economy.”
Cleveland Fed President Loretta Mester, in remarks late on Wednesday, likewise stated the Fed will mostlikely cut rates “at some point,” guiding clear of the lateron “this year” language she – and Williams – had formerly utilized.
Speaking in Fort Lauderdale, Florida on Thursday, Atlanta Fed President Raphael Bostic provided “the end of the year” as his view of the mostlikely timing for a veryfirst rate cut, stating “I’m comfy being client.”
Minneapolis Fed President Neel Kashkari informed Fox News Channel he likewise desires to be “patient,” with the veryfirst rate cut “potentially” not suitable upuntil next year.
As justrecently as a coupleof weeks ago lotsof policymakers signified they anticipated hotter-than-expected inflation in early 20