Federal Reserve Bank of New York President John Williams said Monday he expects a healthy economy in 2026 and indicated he sees no near-term reason to cut interest rates. The interest-rate-setting Federal Open Market Committee “has ​moved the modestly restrictive stance of monetary policy closer to neutral,” Williams said in the text of a speech prepared for delivery before a gathering held by the Council on Foreign Relations in New York. “Monetary policy is now well positioned to support the stabilization of the labor market and the return of inflation to the FOMC’s longer-run goal of 2 percent,” he said. ... (full story)