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

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

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