New York Fed President Williams says inflation has peaked, rates 'well positioned'
New York Fed President John Williams said inflation has peaked, and interest rates are 'well positioned'. He made this statement in a speech to business leaders. He expects inflation to decline to 3.25% by the end of the year.
Reported by 2 outlets — CNBC Top News, Investing.com · Economy. See all sources ↓
New York Federal Reserve President John Williams said Wednesday that he sees multiple signs that inflation has peaked, allowing the central bank to hold interest rates in place despite market expectations for a hike in coming months. In a speech delivered to business leaders in his home district, Williams cited five reasons why he expects the latest price surge has run its course. "There are encouraging reasons to expect that inflation has peaked and should edge down in coming quarters," he said. "I expect overall inflation to decline to around [3.25%] percent by year-end, then continue on a glide path toward our 2 percent goal in 2027 and land on target in 2028," he later added.
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Why it matters
New York Fed President John Williams said inflation has peaked. This means prices are not going up as fast as they were. He thinks interest rates are good for the economy right now.
- What's the story?
- New York Fed President John Williams said inflation has peaked, and interest rates are 'well positioned'. He made this statement in a speech to business leaders. He expects inflation to decline to 3.25% by the end of the year.
- How widely is it covered?
- 2 outlets, average source rating 6.5/10.
- When was it last updated?
- 3m ago.
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New York Fed President Williams says inflation has peaked, rates 'well positioned'
Sources2TypeCoverageCNBC Top News
Investing.com · Economy