New York Fed brings down economic growth forecast

New York Fed President John Williams said he is lowering his forecast for U.S. economic growth this year because of the ongoing conflict in the Middle East, flagging increased downside risk. He indicated the geopolitical shock could weigh on activity and complicate the Fed's policy outlook, increasing uncertainty for markets and interest-rate expectations.

Analysis

New York Fed President John Williams said he is lowering his forecast for U.S. economic growth this year because of the ongoing conflict in the Middle East, flagging increased downside risk. He indicated the geopolitical shock could weigh on activity and complicate the Fed's policy outlook, increasing uncertainty for markets and interest-rate expectations.