NY Fed Pres. Williams: Still some way to go before hitting 2% inflation

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