Fed's Williams: Fed needs to be data dependent, adjust policy actions as circumstances warrant By Frank_Macro Fed Inflation InterestRate
President and influential FOMC member John Williams on Tuesday said that the Fed needs to be data-dependent and adjust its policy actions as the circumstances warrant, report Reuters. The Fed will move expeditiously to bring the Federal Funds target range back to more normal levels this year, he said, echoing Fed Chair Jerome Powell's message in the post-FOMC meeting press conference last week. War and the pandemic have brought a tremendous amount of uncertainty and complexity.
The ongoing pandemic and war in Ukraine are exacerbating near-term inflation pressures and global economic uncertainty. The Fed's task to return balance and price stability to the US economy is difficult, but not insurmountable. Some of the Fed's rebalancing will be accomplished through increases in supply."I am confident the Fed has the right tools to achieve our dual mandate goals.
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