Federal Reserve Bank of New York President John Williams stated on Thursday that while inflation pressures are likely to moderate this year, they remain too high. Williams emphasized the importance of restoring price stability to the Fed’s 2% longer-run goal on a sustained basis.
Inflation Pressures
Williams noted that inflation is ‘unquestionably elevated and well above the (Federal Open Market Committee’s) longer-run goal of 2%.’ He pushed back his expectation of getting inflation back to the Fed’s 2% target, indicating that more work needs to be done to achieve this goal.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
