New York Federal Reserve President John Williams said on Monday that the data and conditions they are seeing now are not nearly enough for the FOMC to shift its monetary policy stance, as reported by Reuters.
Additional takeaways
“Despite strong growth, we are still far from our goals of maximum employment and price stability.”
“Expecting inflation to come back down to 2% next year after short-run imbalances have played out.”
“The speed of the recovery will also depend on the global picture.”
“Real GDP could increase by around 7% this year.”
“The US economy is expected to grow this year at the fastest rate since the early 1980s.”
Market reaction
The greenback continues to have a difficult time finding demand after these comments. As of writing, the US Dollar Index was down 0.4% on the day at 90.94.
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