Federal Reserve Bank of New York President John Williams said on Friday that the Fed's current monetary policy stance, which he described as "modestly restrictive" is appropriate for the conditions, including inflation above the 2% target and a "solid" labor market.
Williams said the economy "entered the new year on firm footing," but stressed the high level of uncertainty going forward. He pointed to "mixed signals" from the recent economic data, as well as an increase in short-term inflation expectations. He added that he expects growth to slow compared to last year. "In these circumstances, it will be important to take a holistic view in monitoring and assessing all available information," he concluded.
