New York Fed President John Williams said that his “number one goal” was to keep the economic expansion on track, but he was noncommittal about what the central bank should do at its next policy meeting later this month.
In a speech Wednesday to a Euromoney conference, Williams said the economy remains in “a favorable place,” but the outlook was looking worse than previously thought.
Over the last two months, he noted, the government had revised down the rate of GDP growth over the last year and has announced a sizable downward revision to payroll growth.
