Federal Reserve Bank of New York President John Williams stressed on Friday that the Federal Reserve is committed to "getting the job done" on inflation. He noted significant progress has been made but conceded that there is still "a way to go" until the 2% target is reached.
Williams warned that uncertainty will "continue to be the defining characteristic of the monetary policy landscape for the foreseeable future." He cited issues including artificial intelligence, climate change, deglobalization, and innovations in the financial system as sources of uncertainty, in addition to standard challenges related to measuring macroeconomic variables.
