- New York Fed president Williams: We still have a long way to go to get maximum employment - Bloomberg/Reuters
Market news
22 June 2021
New York Fed president Williams: We still have a long way to go to get maximum employment - Bloomberg/Reuters
- I feel very good about the progress we're making on vaccines
- Says he sees 3-3.5% GDP growth in 2022; sees inflation around 2% in 2022; sees sharp rise in prices as mostly temporary
- Policy will really be driven by the data
- Fed needs to think about the timing of the asset purchase pace and the composition, need to analyze carefully
- Decisions should be based on how the economy is evolving rather than where things are now
- Discussion about the appropriate stance of Fed funds rate is still a far way off
- Recent inflation numbers are very high and get a lot of attention
- Fed needs to be careful watching data and understanding to what extent inflation is temporary
- Progress in labor market is still not close to the substantial further progress threshold set for asset purchases
- Interest rates are well within the range just as FOMC wants
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