Fed's Williams: Will be data-dependent, nimble in our policy approach
The sky-high inflation is the number one danger to the US economy, New York Fed President John Williams said on Friday, as reported by Reuters.
Additional takeaways
"We are 100% committed to goals."
"We must be resolute, and cannot fall short."
"Price stability is absolutely essential for a strong economy."
"Fed is strongly committed to bringing inflation back down to 2% goal."
"I expect unemployment rate to reach somewhat above 4% next year."
"GDP to grow less than 1% this year, rebound to 1.5% next year."
"Some signs job growth has slowed, but labor market remains incredibly tight."
"We will be data-dependent, nimble in our policy approach."
"High inflation is incredibly harmful; I am resolutely focused on restoring price stability."
"May take some time to get inflation to 2%, may well be a bumpy road."
Market reaction
The US Dollar Index showed no immediate reaction to these comments and was last seen posting small daily losses at 106.95.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
