New York Federal Reserve President John Williams said he is “open” to cutting interest rates before the Federal Open Market Committee’s September meeting, underscoring a readiness to adjust policy if incoming data warrant action. Williams told the Wall Street Journal that the labor market, while still in a “solid place,” must be weighed against unusually large downward revisions to May and June payroll gains. Despite those revisions, Williams said current conditions do not point to an imminent slowdown, adding that he will approach the September gathering with “an open mind.” Looking further ahead, he expects economic “tailwinds” to build and growth to strengthen in 2026, suggesting any near-term policy easing would not conflict with a more robust medium-term outlook.