Fed's Williams: Fed has a ways to go on rates
|The New York Fed’s John Williams who recently said that he predicts a time, “probably 2024”, when the Fed will lower the federal funds rate, has today said on Fox News that the Fed has a ways to go on rate hikes.
Key comments
Inflation still far too high.
Will take a couple of years for inflation to ease to target.
High inflation not yet embedded in economy.
Fed job is to balance demand with supply.
Seeing signs of welcome ebbing in inflation, but unsure if its peaked.
Doesn't believe there is a wage price spiral happening.
Demand still far exceeding available supply in us economy.
Tighter monetary policy needed to restore economic balance.
Fiscal stance not a big factor right now in driving inflation.Fed has a ways to go with rate rises.
Fed rate rise resting place depends on economy.
US Dollar update
US Dollar bears jumping the gun towards a run to 104.50s DXY
The price is headed to a test into the mid-range of the 104 area that guards a slide into the 103s and 101s.
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