NEW YORK (Reuters) - New York Federal Reserve President John Williams said on Friday the U.S. economy is in a good place, reiterating his view that the interest rate cuts made this year should appropriately address the potential risks of the trade war with China and a global economic slowdown.
“I think monetary policy is well positioned right now,” Williams said during a moderated discussion before an audience of financial professionals in New York.
Williams said economic data points to a strong labor market with low rates of unemployment. He also said that the low unemployment rate of 3.5% is not leading to high inflation.
Fed officials voted to cut interest rates last week to a target level of 1.50% to 1.75%.
Reporting by Jonnelle Marte; Editing by Sandra Maler