Feds Williams: Fed is at or near peak for federal funds rate

NY Fed President Williams is a speaking and says:

  • Monetary policy is having the desired effects on the economy
  • Fed is at or near peak for federal funds rate.
  • Fed will need restrictive policy stance for some time to achieve goals.
  • Sees inflation ebbing to 3.25% this year, heading to 2% in 2025.
  • Future is uncertain, data will drive future policy choices.
  • Will still take a while for full monetary policy tightening to affect economy
  • Unemployment to rise just over 4% next year.
  • GDP should moderate next year to about 1.25%.
  • Inflation is still too high, price stability essential for economy.
  • Job market strong, current unemployment rate matches long term trend.
  • Job market moving into better balance.
  • See sample signs at inflation pressures are waning

This article was written by Greg Michalowski at www.forexlive.com. Source