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MNI BRIEF: Fed’s Williams-Inflation Slowing But Still Too High

U.S. inflation is declining gradually but remains too high and stubborn for Federal Reserve officials’ comfort, New York Fed President John Williams said Wednesday.

“Inflation is far too high,” Williams, the vice chair of the FOMC, said during a Q&A with the Central Bank Research Association. “The number one focus of monetary policy is to restore price stability.”

Williams said he takes some umbrage in the decline in rental lease costs, which he hopes will trickle through to shelter components of broader inflation measures. (See MNI INTERVIEW: Excess Retirements Peak, Set To Recede-Fed Econ)

MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com

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