Fed's Williams – isn't happy with where inflation is, says fighting it is the Fed main job

<p>Federal Reserve Bank of New York President John Williams. As head of the NY Fed Williams has a permanent vote on the FOMC, and indeed is its vice-chair.</p><p>Williams is participating in a moderated discussion before the 2023 Annual Meeting of the Central Bank Research Association (CEBRA).</p><p>Headlines via Reuters:</p><ul><li>
I’m not content with where inflation is right now</li><li>Fighting inflation
remains Fed’s main job</li><li>Sees progress on
inflation but price pressures still too high</li><li>Pandemic factors
driving inflation have eased</li><li>Economy still has
strong demand for labor</li><li>‘A bit of a
surprise” to see resilience of housing market</li><li>Economy has handled
rate hikes ‘reasonably well’</li><li>Surprised by the stability of natural rate level</li></ul><p>Williams giving indications that the FOMC has not finished hiking yet. The committee meet later this month and a 25bp rate hike is getting pencilled in for now, awaiting more data in the weeks ahead though. Starting with jobs data this coming Friday then CPI on the 12th. </p><p>ps. Never mind Willaims fighting inflation, I'm fighting a few tech gremlins hence I have had to repost the Willaims bit with more comments. Maybe that's a form of inflation though? 😉 </p>

This article was written by Eamonn Sheridan at www.forexlive.com.