Fed's Williams: The current interest rate stance is still "completely appropriate".

Jin10 data reported on July 17 that Fed's Williams hinted at being unwilling to support a rate cut ahead of this month's FOMC meeting. He believes that tariffs may further drive up Inflation. Williams stated that price data has already shown that the new trade barriers set by the Trump administration are raising the costs of some consumer goods. Williams expects that there could be more price rises in the future. "For those goods that are more susceptible to high tariffs... the price increases so far this year have far exceeded expectations based on past trends." Williams referred to products like home appliances, musical instruments, and luggage. Williams said that considering the risk of accelerated Inflation for the remainder of 2025, the Fed is likely to take a cautious stance on lowering the Benchmark Interest Rate. Williams stated, "Maintaining this moderately restrictive monetary policy stance is entirely appropriate." He also projected that by the end of 2025, the unemployment rate will rise to 4.5%, the Inflation rate will reach as high as 3.5%, and this year's economic growth will be around 1%, significantly slowing compared to last year.