Market news: Fed's Williams did not comment on the specific rate cut

Fed's Williams said it is appropriate for the Fed to cut interest rates now given the progress made in reducing inflation and cooling the job market. The Fed has made "significant progress" in achieving its dual goals of maintaining price stability and full employment, and the risks to achieving both goals have entered a "balanced" state. Williams expressed more confidence that inflation is continuing to move toward the central bank's 2% target, adding that the labor market is unlikely to be a source of future price pressures. While Williams did not disclose the size of the central bank's first rate cut, he said officials could shift policy to neutral. Over time, it depends on the evolution of the data, the outlook, and the risks to achieving our goals. (Jinshi)