The United States Federal Reserve is not taking a calendar-based approach to interest rates or monetary policy, the president of the New York Federal Reserve, John Williams, As reported Reuters.
“It would be worrying if higher inflation persists.”
“I don’t think the big price increases mean that inflation will continue.”
“My view is that inflation will drop to around 2% next year and the following year.”
“Prices are just adjusting to normal and that will not continue year after year.”
“As demand stabilizes and supply returns, price increases will slow down.”
“The Fed is watching inflation closely.”
“Once the economic recovery is more complete, the Fed can recover low interest rates.”
“The time to change rates is not now, the economy is still far from maximum employment.”
“The Fed is using a variety of metrics to assess the economy, including high-frequency data.”
The US Dollar Index it is clinging to small recovery gains following these comments and was last seen up 0.05% to 91.83.