Fed’s Williams emphasizes there is ‘more work to do’ on inflation
Federal Reserve Bank of New York President John Williams emphasized there is more to be done in terms of monetary policy to bring inflation down to the central bank’s target.
Speaking at an event hosted by the Fixed Income Analysts Society, Williams was quoted as saying, “It is clear that monetary policy still has more work to do to bring inflation down to our 2% goal on a sustained basis,”.
“Restoring price stability is essential to achieving maximum employment and stable prices over the longer term, and it is critical that we stay the course until the job is done,” he was quoted as saying.
The Federal Reserve’s two-day meeting concludes on Feb. 1, with markets having priced in a 97.2% chance of a 25-basis point hike, according to CME Group data, bringing the interest rate to a targeted range of 4.5%-4.75%. $SPDR S&P 500 ETF(SPY.US$ $Invesco QQQ Trust(QQQ.US$
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