“Although we are seeing some signs that inflation is moderating, it remains far too high, and it is my No. 1 concern going into 2023,” New York Fed President John Williams said Thursday.
Inflation remains “far too high” and the Federal Reserve “must keep moving,” said New York Fed President John Williams on Thursday.
“Although we are seeing some signs that inflation is moderating, it remains far too high, and it is my No. 1 concern going into 2023,” Williams said. The seven interest-rate hikes last year — which pushed the Fed’s benchmark rate from close to zero to a range of 4.25% to 4.5% — are starting to have “the desired effects,” Williams said.
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