New York Federal Reserve President John Williams said it was reasonable to expect the U.S. central bank might raise interest rates once more before year-end as it seeks to contain inflation risks. The Fed lifted its policy rate to a 3.75%-4.00% range last week, and 16 of 18 policymakers indicated that at least one further increase would probably be needed before the end of 2026. Williams said the decision would depend on incoming data, following the Fed’s approach between its July and September meetings. Earlier comments attributed to Williams cited U.S. economic resilience, lower downside risks to full employment and inflation pressure linked to strong artificial-intelligence demand.