President of the New York Federal Reserve (Fed) John Williams spoke about his outlook on the Fed's rate stance during an interview with Axios.

Key highlights

• Rate cuts are likely later this year, but only if appropriate.
• Fed Williams' view of the economy hasn't materially changed after January data.
• However, things are moving in the right direction.
• Rate hikes are not Fed Williams' base case currently.
• Expects consumer spending growth to slow this year.