Mr. Williams said the 50 basis point cut in September was not "a rule for our future actions" and that officials' latest dot plot of interest rate forecasts was a "very good base case".
Federal Reserve Williams said that individuals have no opinion on whether to cut interest rates by 25 or 50 basis points in September; labor market imbalances have eased significantly; non-farm payrolls data have strengthened the signs of labor market cooling.