Federal Reserve Bank of New York President John Williams (pictured) pointed out during a speech at Pace University in New York that the current monetary policy is "well positioned" to achieve maximum employment, ensure price stability and reduce inflation to the central bank's target of 2%.
"The modestly restrictive stance of policy should support the return to 2 percent inflation while sustaining solid economic growth and labor market conditions. But it's important to note that the economic outlook remains highly uncertain, particularly around potential fiscal, trade, immigration, and regulatory policies," he said on Tuesday.
The policymaker further predicted that overall inflation would hover around 2.5% throughout this year and then decrease towards the 2% goal in the coming years.
