Federal Reserve Bank of New York President John Williams said on Wednesday that he believes the inflation rate to stand at 2.25% this year, and reach the target level of 2% in 2025, although he stressed on its way to 2% "inflation may surprise on the upside."
In a speech delivered at the Cradle of Aviation Museum, Williams noted that he sees gross domestic product growth slowing to 1.5% this year, while he expects the unemployment rate to increase slightly, to 4%.
Furthermore, the central banker said that he "will be focused on the data, the economic outlook, and the risks, in evaluating the appropriate path for monetary policy that best achieves our goals."
