New York Fed’s Williams says inflation remains too high, policy stance “well positioned” to curb pressures

New York Fed President John Williams said on June 25 that inflation is “unquestionably elevated” and well above the Federal Reserve’s 2% long-run goal. He said it is imperative to bring inflation back to 2% and keep it there on a sustained basis. Williams added that the current monetary policy stance is “well positioned” to achieve that objective, without signaling a near-term need to change interest rates. The remarks reinforced expectations that the Fed could delay rate cuts.