NY Fed President John Williams shares his latest economic outlook (compared here to his last outlook speech, on April 11, during what might be described peak trade uncertainty) • Expects GDP growth of "just over 1%" this year (vs. "somewhat below 1%" in his April forecast) • Expects the unemployment rate to rise to around 4.5% (vs. 4.5% to 5% in April) • Expects inflation of around 3% this year (vs. 3.5%-4% in April) https://www.newyorkfed.org/newsevents/speeches/2025/wil250624