Williams is the president of the New York Fed. As such he has a permanent voting seat on the FOMC. Speaking now.
Headlines via Reuters:
- US inflation still 'too high,' Fed will act to lower price pressures
- Tighter credit conditions will weigh on growth
- It will take time to gauge impact of tighter banking condition
- Banking conditions have stabilized, banks stable and resilient
- Likely to take two years to get back to 2% inflation target
- Expects inflation to ease to 3.25% this year
- It will take time for Fed actions to lower inflation
- Expects gradual rise in unemployment rate to 4%-4.5% over next year
- Seeing signs of cooling in still very strong job market
- Inflation moderating, but demand still outstripping supply
- Job market is still quite tight
- Economy expanding at solid pace but growth should moderate
