Fed's Williams: Inflation moving in right direction - Breaking The News

Fed's Williams: Inflation moving in right direction

16 May

1 min read

Federal Reserve policymaker John Williams warned on Tuesday the United States economy continues to face unacceptably high inflation, however noting it is gradually moving in the right direction.

Speaking at an event organized by the University of the Virgin Islands, Williams said he expects the US gross domestic product to continue growing in 2023.

Commenting on the Fed's rate hikes, the New York Fed president argued there are lag effects for the central bank's policy and that it will take a while to feel the impact of the tightening. We need to monitor economic feedback from the Fed's actions, he concluded.

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