Free Trial

MNI BRIEF: Williams - Fed Owns Responsibility Of 2% Inflation

-

New York Fed President spoke on Friday in Peru.

Federal Reserve Bank of New York President John Williams on Friday said the central bank remains committed to its 2% inflation target, adding that the longer run trends affecting a low neutral rate in the U.S. are still in place.

"Central Banks must own the responsibility to deliver price stability and have the independence to act to achieve it. Today, regardless of the economic shocks that we face, whether changes in fiscal policy or globalization and de-globalization swings, central banks recognize that attaining and maintaining price stability is their job to do and the experience of the past few years demonstrate that," Williams said at an event in Cusco, Peru.

Keep reading...Show less
147 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Federal Reserve Bank of New York President John Williams on Friday said the central bank remains committed to its 2% inflation target, adding that the longer run trends affecting a low neutral rate in the U.S. are still in place.

"Central Banks must own the responsibility to deliver price stability and have the independence to act to achieve it. Today, regardless of the economic shocks that we face, whether changes in fiscal policy or globalization and de-globalization swings, central banks recognize that attaining and maintaining price stability is their job to do and the experience of the past few years demonstrate that," Williams said at an event in Cusco, Peru.

Keep reading...Show less