The President of the Federal Reserve Bank of New York, Williams, stated on Monday that as inflationary pressures continue to ease, the Federal Reserve may further lower its interest rate targets. Williams said during a speech at a meeting of the Queens Chamber of Commerce in New York, "Monetary policy remains in a restrictive range to support a sustainable return to the 2% inflation target." Looking ahead, "I expect that over time, continuing to shift to a more neutral policy setting will be appropriate," Williams said, adding that the policy path will depend on the data. If there is one thing we've learned in the past five years, it's that the outlook remains highly uncertain. Williams did not provide clear guidance on the timing of interest rate cuts or whether he believes the Federal Reserve will lower its interest rate targets at this month's FOMC meeting.