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

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.

"We continue to be unequivocal in our commitment to achieve our 2% target on a sustained basis," he said. (See MNI INTERVIEW: Fed Cuts Near, Hiring Weaker Than Appears-Wilcox)