text:  New York Fed President Williams told the Wall Street Journal the last three months of inflation data are, quote, getting us closer to a disinflationary trend that we're looking for. But he said he wants to see more data to be more confident that inflation is heading sustainably to the Fed's 2% goal. That pretty much rules out a rate cut at the Fed's meeting in two weeks. But on Monday, Fed Chair Jerome Powell said the Fed could cut rates before inflation falls to 2%.