NEW YORK (Reuters) - The U.S. economy is in a “very, very good place,” New York Federal Reserve President John Williams said on Thursday, echoing the broad assessment of other key members of the U.S. central bank.
Still, Williams said in a question and answer session at a New York Bankers’ Association event, some risks to the outlook persist, including the ongoing slowdown in global growth and developments such as the coronavirus outbreak in China. That said, he still expects the U.S. economy to grow at around trend this year.
The Fed cut interest rates three times in 2019, lowering short-term borrowing costs by three-quarters of a percentage point to a range of 1.50-1.75%. Since their last cut in October, however, policymakers have signaled they are on hold and view the U.S. economy is in a “good place.”
Reporting by Dan Burns; editing by Diane Craft