Core Viewpoint - New York Fed President Williams supports interest rate cuts to balance inflation control and employment support [1] Group 1: Interest Rate Decisions - Williams indicated that a "moderate reduction in rates" and "slight easing of policy restrictions" are reasonable to ensure healthy labor market development while applying downward pressure on inflation above target [1] - The Federal Reserve lowered the federal funds rate target range by 25 basis points to 4%-4.25% due to rising risks in the labor market, despite the U.S. inflation rate remaining above the 2% target [1] - The dot plot from the September meeting suggests that the Fed may cut rates two more times by the end of the year [1] Group 2: Employment and Inflation Balance - Williams emphasized the need to balance inflation control and employment support, expressing concern over the potential for a slowdown in job growth to spread excessively [1] - He noted that there is still work to be done regarding high inflation, as it remains distant from the 2% target [1] Group 3: Tariff Impact - Williams stated that some factors previously causing high inflation concerns have dissipated, and the impact of tariffs has been less than expected, with no signs of accumulating inflationary pressures [1]