More from NY Fed Pres. Williams:
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Large AI investments in US are affecting global demand for capital
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People don’t like high inflation
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Getting inflation to 2% as soon as we can is right
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2% inflation target is a very good compromise, serves us well
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Powerful that everyone knows Fed’s inflation target
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Independence of Fed is incredibly important
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Evidence is compelling that independent central banks make unpopular short-term decisions that pay off
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Loss of central bank independence has had horrible consequences for inflation in other countries
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If Fed gets it right, that’s good for global economy
This article was written by Greg Michalowski at investinglive.com.