BARRON'S: Top US Fed Official Does Not Rule Out Further Rate Hike

The comments by New York Fed President John Williams came a week after policymakers unveiled a tenth and possibly final rate increase in the current cycle, adding that they would consider the impact of existing hikes before determining further moves.

But on Tuesday, Williams told the Economic Club of New York: "We haven't said we're done raising rates."

He acknowledged "incredible progress over the past year or so" in lifting rates to bring inflation down, but added: "I think what we're going to need to do as we always do is be data dependent."


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CNBC: Fed’s John Williams says rates could be increased if inflation doesn’t come down

NEW YORK — New York Federal Reserve President John Williams on Tuesday cautioned that interest rate increases will take a while to work their way through the economy before inflation returns to an acceptable level.

The central bank official gave no forecast for where he sees policy headed but said he doesn’t expect inflation to return to the Fed’s 2% goal until the next two years. Should inflation not come down, he said the Fed always has the option to raise rates.

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NEW YORK POST: New York Fed President John Williams leaves door open to rate hike pause

In his formal remarks on Tuesday, Williams said “I am confident we are on the path to restoring price stability,” adding, “As always, I’ll be monitoring the totality of the data and what it implies for the achievement of our goals.

He said price pressures remain “too high,” and added that the Fed remains committed to bringing inflation back to the central bank’s 2% target. He also said, “Although we have seen some signs of a gradual cooling in the demand for labor — as well as for some goods and commodities — overall demand continues to exceed supply.”
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BLOOMBERG: Williams Says Fed Is Data Dependent, Leaves Door Open to Pause

Federal Reserve Bank of New York President John Williams said he is monitoring how strains in the banking sector affect the US economy and left the door open to leaving interest rates on hold next month.

“I will be particularly focused on assessing the evolution of credit conditions and their effects on the outlook for growth, employment, and inflation,” Williams said Tuesday at an event with the Economic Club of New York. “We’re going to get a lot of data between now and our June meeting.”

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ECNY: Signature Luncheon

As president and CEO of the Federal Reserve Bank of New York, John Williams serves as the Vice Chair and a permanent member of the Federal Open Market Committee. He will address the Club on the U.S. economic outlook and monetary policy.

AMERICAN BANKER: Fed's Williams says commercial real estate a 'real issue' for banks

Federal Reserve Bank of New York President John Williams said the health of the office sector is a "real issue" for banks but not an immediate threat to financial stability.

Speaking at an event hosted by the Economic Club of New York on Tuesday afternoon, Williams said he and other bank supervisors are keenly focused on what falling commercial real estate values might mean for banks and their loan books.

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ECNY: Video Webinar

Daniel Huttenlocher, Inaugural Dean of MIT Schwarzman College of Computing will give insights on AI.

ECNY: NYC Series Breakfast

NYC Roundtable Series with Keechant L. Sewell, 45th Commissioner, New York City Police Department. This is off the record roundtable discussion with the focus on Public Safety and is aimed at helping to rebuild New York City.

BLOOMBERG:  Lee Ainslie appearance at The Economic Club of New York 

 

ECNY: Signature Luncheon

Join us for a discussion on where the markets may go in 2023 as well as insights on investing in technology. Featuring Lee Ainslie, Founder & Managing Partner of Maverick Capital.

ECNY: Video Webinar

DEI & Author Series

Webinar with Dr. Ella Washington, Organizational Psychologist and Professor at Georgetown University. She will examine inclusive leadership and the evolution of workplace culture.

ECNY: Video Webinar

Event you don't want to miss: Larry Summers & Glenn Hubbard will debate the trajectory of monetary policy and its implications.

ECNY: Signature Luncheon

In his role as 38th Commandant of the Marine Corps, Gen. David H. Berger is focused on leveraging new technologies to transform Marine Corps. Hear him share insight about this transformation as well as current geopolitical tensions and what might be on the horizon.

FOX BUSINESS: JetBlue will cut flights in, out of New York this summer, CEO says

JetBlue CEO Robin Hayes warned Wednesday that the discount carrier is going to have to cut flights into and out of the New York area this summer due to a significant shortage of air traffic controllers.

During a discussion at the Economic Club of New York in New York City, Hayes said staffing at the air traffic control center that handles all inbound, outbound and through traffic across New York airspace is only at 54% of what is needed. That is compared to the national average of 81%, Hayes continued.


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BLOOMBERG: JetBlue Set to Cut New York Flights During ‘Very Busy’ Summer

JetBlue Airways Corp. is preparing to trim New York flights during the upcoming “very busy” summer travel season after federal regulators asked carriers to reduce schedules by as much as 10% at some of the nation’s busiest airports.


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ECNY: Signature Luncheon

With recent travel issues causing front-page headlines, hear from JetBlue Chief Executive Officer Robin Hayes on what the airlines are doing to improve the customer experience and their business. As well as the strategy behind JetBlue's planned merger with Spirit Airlines.

CNBC: JetBlue is preparing to trim New York flights in response to FAA staffing shortage, CEO says

JetBlue Airways is preparing to cut scores of weekly flights in the New York City area this spring and summer in response to a shortage of air traffic controllers, a measure that will have a financial impact on the airline, CEO Robin Hayes told CNBC on Wednesday.

“We don’t want to pull down flights. I’m sure no airline wants to pull down flights,” Hayes said in an interview with CNBC ahead of an event at the Economic Club of New York. “But if we don’t cut them the system is not going to be workable this summer.”


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BUSINESS OF FASHION:  L’Oréal Eyes Tech Talent, Puts Sustainability at the Fore

Beauty’s biggest player is leaning into artificial intelligence and placing a deeper focus on how its goods are made.

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ECNY: Signature Luncheon

Join the Director of the Cybersecurity and Infrastructure Security Agency (CISA), Jen Easterly for a lively discussion on how CISA is helping reduce risk to cyber and physical infrastructure to protect organizations from financial loss, disruption, or reputational damage – and why corporate cyber responsibility is more important then ever.

BLOOMBERG: L’Oréal CEO Says Consumers Are Spending More on Better Products

Global consumers are spending more on higher-end products as the post-pandemic “premiumization” of the beauty category gathers momentum, L’Oréal SA’s chief executive officer told a gathering in New York.

“All around the world, people are spending more on better products,” CEO Nicolas Hieronimus told the Economic Club of New York on Wednesday. “Beauty is this category that is both a need but also an indulgence.”
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