No strong argument to either raise or lower rates, Fed's Williams says

A top US central bank official does not see strong enough arguments at the moment to either raise or lower interest rates.

Highlighting the importance of inflation when deciding the next move on policy, the head of the Federal Reserve bank of New York, John Williams, reportedly said on Wednesday that he would be watching to see how the economy evolved over the coming months and quarters.

As of 1759 BST, the yield on the benchmark two-year US Treasury note was moving downwards by three basis points to 2.22%, with Fed funds futures pricing in a roughly 70% chance of a 25 basis point cut in the target range for the Fed funds rate to 2.0-2.25% by year end.