Fed’s Williams: Inflation is moving in the right direction
Posted At: 2023-09-08 09:00
In an interview with Bloomberg, New York Federal Reserve President John Williams mentioned that inflation is moving in the right direction. Regarding the September FOMC meeting, he said he needs more data before deciding.
Williams added that labor market imbalances are evening out and that demand is coming down. According to him, the question before the Fed is whether monetary policy needs to be more restrictive.
He sees the risk of stronger-than-expected growth and projects the unemployment rate to edge up over the next year.
Market reaction
The US dollar pulled back marginally after the beginning of Williams' comments. The US Dollar Index is hovering around 105.00.