MNI BRIEF: Fed's Williams-Room For 'A Further Adjustment'

New York Federal Reserve Bank President John Williams indicated Friday he backs one more interest rate cut from the central bank in order to provide continued support for the labor market. 

"I still see room for a further adjustment in the near term to the target range for the federal funds rate to move the stance of policy closer to the range of neutral, thereby maintaining the balance between the achievement of our two goals," Williams said in a speech. "I view monetary policy as being modestly restrictive, although somewhat less so than before our recent actions."   (see MNI INTERVIEW: Fed Will Cut In Dec, More Next Year-Reinhart )