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Federal Reserve Bank of New York President John Williams said on Monday the U.S. central bank is likely to lower its interest rate target further over time as inflation pressures continue to cool. “Monetary policy remains in restrictive territory to support the sustainable return of inflation to our 2 percent goal,” Williams said in the text of a speech to be delivered before a gathering of the Queens Chamber of Commerce, held in New York.

Worth a fraction of a penny now, the ruble has fallen to lows not seen since March 2022, in the early days of the war against Ukraine.

A top Federal Reserve official said Monday that he is leaning toward supporting an interest rate cut when the Fed meets in two weeks but that evidence of persistent inflation before then could cause him to change that view. Speaking at George Washington University, Christopher Waller, a key member of the Fed's Board of Governors, said he was confident that inflation is headed lower and that the central bank will likely keep reducing its key rate, which affects many consumer and business loans. “At present, I lean toward supporting a cut to the policy rate at our December meeting," Waller said in his remarks to a conference held by the American Institute for Economic Research.

MOSCOW (Reuters) -Russia's sanctions-hit, militarized economy is expected to slow next year and banks' profits will fall, while the benchmark interest rate may climb to 23% by the end of this year, Andrei Kostin, CEO of Russia's second-largest lender, VTB, said. Kostin predicted that GDP growth will slow to 1.9% in 2025, above the International Monetary Fund's forecast of 1.3%. Kostin cautiously criticized the central bank's hawkish monetary stance, saying the current inflation rate did not require a benchmark interest rate "three times this level".

“If you look at this list of policies and others, all of them have the impact that over time inflation will be higher, growth is going to be lower,” Roubini—a.k.a. Dr. Doom—said this week.

(Bloomberg) -- Federal Reserve Bank of Atlanta President Raphael Bostic said he’s undecided on whether an interest-rate cut is needed this month, but still believes officials should continue lowering rates over the coming months.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAs Wars Rage, Cities Face a Dark New Era of Urban Destruction“The risks to achieving the committee’s dual mandates of maximum employment and price stability have shifted such that they

Atlanta Federal Reserve President Raphael Bostic said on Monday he has an open mind about whether to cut interest rates again at the Fed's December meeting, with upcoming data on jobs important in shaping the decision. "There is a lot of uncertainty," Bostic said in comments to reporters. In an essay also released on Monday, Bostic said his base case remains that inflation will continue to fall to the Fed's 2% target, though it remains an open question how far and how fast interest rates should be reduced to ensure that happens while avoiding any undue damage to the job market.