Appropriate to dial down restrictiveness of monetary policy (Il Sole 24 Ore Radiocor) - New York, 06 Sep - The Federal Reserve's restrictive stance on monetary policy has succeeded in restoring balance to the economy and bringing down inflation, leaving the way open to cut interest rates, Federal Reserve Bank of New York President John Williams said.

'With the economy now in equipoise and inflation on a path to 2 percent, it is now appropriate to dial down the degree of restrictiveness in the stance of policy by reducing the target range for the federal funds rate,' Williams said in prepared comments for a speech.

"Looking ahead, with inflation moving toward the target and the economy in balance, the stance of monetary policy can be moved to a more a neutral setting over time depending on the evolution of the data, the outlook, and the risks to achieving our objectives," he said.

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(RADIOCOR) 06-09-24 15:14:28 (0442) 5 NNNN