New York Fed President John Williams shared his views on the labor market, inflation, and interest rates in a Friday interview with Wall Street Journal reporter Nick Timiraos in New York.The Journal have provided a full transcript, which is really interesting. The journal is gated, but if you can access it, link. A notable item in it is this question from Timiraos (bolding mine):To sum up then, if the data were to reveal itself over the next two months in a way consistent with what we’ve seen over the last few months, which I would characterize as some goods inflation filtering through, maybe not as much or as fast as people had thought, and the labor market that doesn’t appear to be getting any stronger, but again, hard to read because of changes in supply and demand. Would you be prepared to support resuming rate normalization as soon as your next meeting?Now Williams is a central banker, so his answer was long and detailed. In summary, Williams said the Bank is nearing its goals, but rate cuts depend on data. ... Williams emphasized being data-driven, not committing to a timeline, and carefully weighing risks before easing policy. And then he finished with this, which is what is going to get the headlines, bolding is mine:And so I think that I go into this with very much an open mind.As head of the New York Federal Reserve Williams is a permanent voter on the Federal Open Market Committee (FOMC). Indeed, he is vice-chair of the committee (Powell is Chair of the Committee and of the Federal Reserve System as a whole).As a note for your diary, the Federal Open Market Committee (FOMC) next meet on September 16 and 17. This article was written by Eamonn Sheridan at investinglive.com.