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Williams: Fed At Or Near Peak Level For Rates

FED

The NY Fed's Williams, a typically dovish leaning permanent voter, said in prepared remarks today that he currently sees the Fed as being at or near the peak for rates whilst remaining restrictive for some time.


Highlights from his text-only remarks owing to a personal matter:

  • "My current assessment is that we are at, or near, the peak level of the target range for the federal funds rate. I expect we will need to maintain a restrictive stance of monetary policy for some time to fully restore balance to demand and supply and bring inflation back to our 2 percent longer-run goal."
  • "We face two-sided risks. Our decisions, as always, will be guided by the data, with our eyes squarely on our goals,"
  • "We are doing well on our maximum employment mandate, but we still have a ways to go to fully restore price stability."
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