(Reuters) - New York Federal Reserve President John Williams (NYSE:WMB) said the two rate cuts the central bank approved this year leave monetary policy in a position to appropriately address current risks to economic growth and that future rate decisions will be set on a "meeting by meeting" basis.
Williams said the risks that factored into the previous rate reductions passed in July and September are still a threat to the economy - including a global slowdown, trade uncertainty and low inflation. But he said policymakers will need to focus on the outlook to justify future rate cuts.
"I don't want to have this narrative that we still have the same conditions out there so does it mean we need to take further and further action," he told reporters after speaking at an investing conference in New York. "What we need to do is weigh or consider how those factors are influencing the outlook."
