Fed’s Williams is not in a rush to raise interest rates — or cut them

New York Fed President John Williams said that interest rates are in a "good place" and there was no need for immediate action.

New York Fed President John Williams doesn’t appear interested in the Federal Reserve taking any action on interest rates in the short term, saying Monday that the central bank’s monetary policy is in a “good place.”

In an interview with the New York Times, Williams said that interest rates were high enough to put downward pressure on inflation — what the Fed calls “restrictive.” “Because we have monetary policy, in my view, in a restrictive stance and definitely influencing the economy in the right direction, I don’t feel we need to take immediate action or specific action,” he said.The median forecast of Fed officials, produced in June, included one 25-basis-point hike.

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