NY Fed's Williams says economy is in a good place, monetary policy well positioned

John Williams, Chief Executive Officer of the Federal Reserve Bank of New York, speaks at an event in New York, U.S., November 6, 2019. REUTERS/Carlo Allegri

NEW YORK (Reuters) - New York Federal Reserve President John Williams said on Friday the U.S. economy is in a good place, reiterating his view that the interest rate cuts made this year should appropriately address the potential risks of the trade war with China and a global economic slowdown.

“I think monetary policy is well positioned right now,” Williams said during a moderated discussion before an audience of financial professionals in New York.

Williams said economic data points to a strong labor market with low rates of unemployment. He also said that the low unemployment rate of 3.5% is not leading to high inflation.

Fed officials voted to cut interest rates last week to a target level of 1.50% to 1.75%.

Reporting by Jonnelle Marte; Editing by Sandra Maler