New York Federal Reserve President, John Williams, has said that it is too early to conclude whether the Fed is done with interest rate hikes, observing that any additional policy firming may be required to curtail inflation. Williams maintained that the vibrant job market remains strong and expects the economy to grow moderately this year. However, he anticipates that the inflation rate will fall to 3.25% this year and return to the 2% target by 2025. At the moment, traders are still pricing in the strong possibility of a rate cut this year, with many forecasting that the Fed will remain unchanged during its June meeting.