New York Fed President Highlights Economic Challenges Amid Potential Rate Cut

According to BlockBeats, New York Federal Reserve President John Williams has highlighted concerns about a financial crisis affecting many low-income families. This issue, described as a 'division' among American households, could influence the Federal Reserve's decision on whether to cut interest rates in December. Williams discussed the upcoming December meeting, noting that the current situation is characterized by persistently high inflation with no signs of decline, alongside a resilient economy. Although the U.S. labor market is gradually cooling, it has not undergone any significant changes. Unlike earlier this year, there is no longer any serious discussion about a recession. The U.S. economy is performing better than many, including Williams, had feared. In April, he expressed concerns that U.S. President Donald Trump's tariffs might drive inflation up to 4% and slightly reduce economic growth to below 1%.