Fed’s Williams: Don’t want to allow inflation expectations anchor to slip
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New York’s Federal Reserve John Williams explained that the 2% inflation is the foundational target and that price stability is an absolute imperative.
”Our job is clear: our job is to make sure we restore price stability, which is truly the foundation of a strong economy,” Williams said at a conference hosted at the bank.
He noted that with global supply chains still disrupted, goods prices may not continue their recent decline, and inflation in core services excluding housing continues to be far too high, driven by too much demand relative to supply.
The US Dollar was firmer on the day in anticipation of hawkish minutes from the prior Federal Open Market Committee meeting and this week’s PCE deflator number.
The bias is bullish while riding the daily trendline support as illustrated above.
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