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Fed's Williams says no urgent rate cut needed due to skewed inflation data from shutdown and Black Friday deals.
New York Fed President John Williams said Friday there's no immediate need for another interest rate cut, citing distorted inflation data due to the government shutdown disrupting October and early November price collection.
He estimated the November CPI reading of 2.7% may be artificially low by about 0.1 percentage points, with Black Friday discount pricing also contributing to a downward bias.
Williams emphasized the Fed’s current policy is well-positioned, with three rate cuts already made, and stressed that further action will depend on clearer data ahead of the January meeting.
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Williams de la Fed dice que no se necesita un recorte de tasas urgente debido a los datos de inflación sesgados del cierre y las ofertas del Viernes Negro.