New York Federal Reserve Bank (Fed) President John Williams said on Friday that price stability is foundational for the Fed, per Reuters.
Key takeaways
“Important to have well-anchored inflation expectations.”
“We are focused on keeping inflation as close to target as possible.”
“Inflation will come back to 2%.”
“Key to think through scenarios in time of uncertainty.”
“Expecting growth to slow considerably, inflation and unemployment to be higher.”
“Factors keeping long run neutral rate low still in place.”
“Still seeing long run neutral rate as quite low.”
“Markets are very focused on downside risks right now.”
“Markets appear convinced fed will get inflation back to 2%.”
“Now is an inflection point between hard and soft data.”
“Hard data is telling us economy is good right now.”
Market reaction
The US Dollar stays under modest bearish pressure in the American session on Friday. At the time of press, the US Dollar Index was down 0.3% on the day at 100.35.
