Fed's Williams sees rates as modestly restrictive, expects economy to pick up steam in 2026

New York Federal Reserve president John Williams said Monday that the central bank is closer to neutral on its benchmark policy rate, and he expects the economy will “pick up steam next year.”

“After a year of uncertainty, we will be starting 2026 from a place of resilience. The economy is poised to return to solid growth and price stability,” Williams said in a speech in New Jersey. “We now appear to be turning the corner