Fed's Williams said that the basic expectation is that there will be no economic recession; it is expected that the Fed will need to raise interest rates further, and how high the rate hike will be depends on economic conditions; the economic outlook faces a lot of downside risks; the Fed may cut interest rates in 2024; restrictive policies need to be maintained until 2023; and it is foreseeable that the nominal federal funds rate will fall in 2024. (Cailian News)