Federal Reserve Bank of New York President John Williams expressed his belief that interest rates are appropriately set to support the goal of achieving a 2% inflation rate.
"I see the current stance of monetary policy as being well positioned to continue the progress we've made toward achieving our objectives," Williams said before the Economic Club of New York on Thursday.
The central bank representative added that he expects inflation "to resume moderating" in the second half of the year. He emphasized that there is no immediate need for any changes to the current policy, as "ample evidence" suggests that it is having a restrictive impact.
