The Federal Reserve's Williams believes the U.S. economy will have a soft landing, suggesting that the pace of interest rate cuts will slow down

Mr. Williams said the Fed was now "well placed" to engineer a soft landing for the US economy, while suggesting it supported a slower pace of rate cuts after a steep 50 basis point cut in September. Mr. Williams said the "very good" jobs report for September confirmed that the economy remained strong and healthy. The 50 basis point cut was "the right thing to do in September and it is the right thing to do today". Asked how aggressively the Fed should continue to cut interest rates, Williams said the latest dot plot shows the Fed will cut rates by 25 basis points at each of the two remaining meetings this year, which is a "very good base case", these decisions will depend on data rather than following a "preset course", and a 50 basis point cut in September is not a "norm for future action". Williams also mentioned the need to be vigilant about shocks triggered by places such as the Middle East. (Jin Ten)