Williams: Weak labor market prompts me to support rate cuts, estimated real neutral interest rate at 0.75%

According to ChainCatcher, citing Golden Ten Data, Federal Reserve's Williams stated on Monday that initial signs of weakness in the labor market prompted him to support a rate cut at the most recent Fed meeting. He believes that "it makes sense to slightly lower interest rates," and said that "moderately easing some tightening measures" would help boost the job market and exert some downward pressure on still-elevated inflation levels. In addition, his model estimates the real neutral interest rate at 0.75%, but he emphasized that policy is data-driven.