Fed's Williams: Economic threats that led to rate cuts don't guarantee further action

(Reuters) - New York Federal Reserve President John Williams (NYSE:WMB) said the two rate cuts the central bank approved this year leave monetary policy in a position to appropriately address current risks to economic growth and that future rate decisions will be set on a "meeting by meeting" basis.

Williams said the risks that factored into the previous rate reductions passed in July and September are still a threat to the economy - including a global slowdown, trade uncertainty and low inflation. But he said policymakers will need to focus on the outlook to justify future rate cuts.

"I don't want to ...