PiCK
New York Fed’s Williams Says Current Policy Is Appropriate to Return Inflation to 2%
JH Kim
Summary
- John Williams, president of the Federal Reserve Bank of New York, said the current monetary policy stance is appropriate to bring inflation back to the 2% target.
- He said inflation remains well above the Fed’s 2% target, but the current monetary policy stance is well positioned to achieve that goal.
- He added that inflation readings are expected to ease modestly over the next several quarters, though substantial risks remain to achieving the Fed’s dual mandate.
Forecast Trend Report by Period
John Williams, president of the Federal Reserve Bank of New York, said the current stance of monetary policy is appropriate to bring inflation back to the Fed’s 2% target.
Reuters reported on June 25 that Williams said inflation remains elevated and must continue moving back to the central bank’s long-run 2% goal.
The current policy stance is well positioned to achieve that objective, he said.
Williams said inflation is “clearly elevated” and remains well above the Fed’s 2% target.
He added that inflation readings are expected to ease modestly over the next several quarters, though substantial risks to achieving the Fed’s dual mandate remain.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.