Federal Reserve Bank of New York President John Williams: "Labor market remains solid... Will approach September FOMC with an open mind"

John Williams, President of the Federal Reserve Bank of New York, stated that the labor market remains solid and that he will approach the September Federal Open Market Committee (FOMC) meeting with an open mind.

According to Walter Bloomberg on the 2nd (local time), Williams said, "The labor market is still strong. I will approach the September FOMC meeting with an open attitude." This is interpreted as meaning he does not want to preemptively determine whether to hold or adjust the benchmark interest rate.

President Williams also expressed an optimistic outlook, stating, "I expect economic tailwinds and a solid recovery to fully materialize in 2026."

Meanwhile, after the U.S. July nonfarm payroll data fell far short of market expectations the previous day, there has been growing anticipation for a rate cut in September. On Wall Street, there are views that the Federal Reserve could implement a big cut (a 0.50% point rate cut).