The president of the New York Fed suggested he is reluctant to support lowering interest rates ahead of the bank’s next meeting, arguing that tariffs are likely to drive further inflation.

New York Fed president John Williams on Friday said he lowered his outlook for the US economy and raised his expectation for inflation this year on account of President Trump’s tariffs.

New York Federal Reserve president John Williams told Yahoo Finance he expects the central bank to keep rates unchanged for 'some time' as policymakers watch how new tariffs from President Trump ...

Reuters FILE PHOTO: New York Federal Reserve Bank President John Williams speaks to Economic Club of New York, in New York City, U.S., May 30, 2024. REUTERS/Andrew Kelly/File Photo ...

Reuters FILE PHOTO: New York Federal Reserve Bank President John Williams speaks to Economic Club of New York, in New York City, U.S., May 30, 2024. REUTERS/Andrew Kelly/File Photo ...

There are a number of signs indicating that inflation will continue to move toward the Fed's 2% target, but it will "take time" before the central bank can achieve that goal on a sustained basis ...

New York Federal Reserve President John Williams said on Friday the Trump administration's current trade policies will accelerate inflation this year, while adding that it's critical for the U.S ...