NY Fed Pres. Williams is speaking and says:
- Still some ways to go before hitting the 2% inflation target.
- Fully committed to achieving the Fed’s 2% inflation target.
- Will let incoming economic data determine the monetary policy path.
- Sees likely uneven path back to 2% inflation.
- Inflation pressures have fallen a lot amid broad-based improvement.
- Risks to outlook exist on up and down sides.
- Inflation to hit 2%-2.25% this year, 2% in 2025.
- Growth at 1.5% this year, unemployment up to around 4%.
- Economy, job market strong, imbalances waning.
- Current 3.7% unemployment rate around long-term level.
- Risks to Fed job, inflation mandates moving into better balance.
This article was written by Greg Michalowski at www.forexlive.com. Source