Familiar Tones From Williams

Nothing particularly market moving from NY Fed President Williams, who reaffirms the importance of the central bank’s 2% inflation target, highlighting the imperative nature of price stability in the process. Williams stressed the Fed’s commitment to returning inflation to target over the next few years, as the central bank aims to bring demand back in line with constrained supply. Williams also reiterated the need to keep inflation expectations anchored, while warning that inflation could be stickier than hoped in the months ahead, after the recent moderation in the pace of price rises.