off-the-wire

Fed's Williams: Inflation still too high, rate policy 'well positioned' to lower price pressures

Kitco Media
By Reuters
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Updated:
Reuters
Fed's Williams: Inflation still too high, rate policy 'well positioned' to lower price pressures teaser image

June 25 (Reuters) - Federal Reserve ​Bank of New York ​President John Williams said on ⁠Thursday that while inflation ​pressures are likely to moderate ​this year they remain too high, as he pushed back his ​expectation of getting inflation ​back to the Fed’s 2% target.

“On the ‌price ⁠stability side of our dual mandate, inflation is unquestionably elevated and well above ​the (Federal Open ​Market ⁠Committee’s) longer-run goal of 2%” and “it is ​imperative that we restore ​it ⁠to our 2% longer-run goal on a sustained basis,” ⁠Williams ​said in the ​text of a speech.

Reporting by Michael S. ​Derby; Editing by Andrea Ricci

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