John Williams of the New York Fed, who recently said he predicts a time, “probably 2024,” when the Fed will lower the fed funds rate, said on Fox News today that the Fed has a ways to go Regarding rate hikes.
Key comments
Inflation is still too high.
It will take a couple of years for inflation to reach the target.
High inflation is not yet built into the economy.
The Fed’s job is to balance demand with supply.
There are signs of a good decline in inflation, but it is not known whether it has peaked.
He does not believe that a wage price spiral is taking place.
Demand continues to far exceed the supply available in the US economy.
Tighter monetary policy is needed to restore economic balance.
Fiscal policy is not a major factor right now in driving inflation.
The Fed has a ways to go with rate hikes.
The Fed’s rate hike depends on the economy.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
