New York Federal Reserve President John Williams said he expects energy prices to gradually decline over the coming months despite renewed hostilities in the Middle East, while emphasising that it is too early to determine the U.S. central bank's interest rate decision at its policy meeting later this month, according to Reuters.
Speaking at an event hosted by the New York Fed on Thursday, Williams said market expectations for oil prices continue to point toward moderation over the next six to 12 months. According to Reuters, he said this remains a reasonable baseline despite the resurgence of geopolitical tensions that have raised concerns over global energy supplies.
