Fed's Williams: Recent rate cut aimed at bolstering job market

By Michael S. Derby (Reuters) -Federal Reserve Bank of New York President John Williams said on Monday that emerging signs of weakness in the labor market drove his support for cutting interest rates at the most recent central bank meeting. “It made sense to move interest rates down a little bit” and “to take a little bit of the restrictiveness out of there,” to help ensure ongoing health in the job market while still keeping some downward pressure on above-target inflation levels, Williams said during a ...