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New York Fed President Williams crossed the wires in the last hour arguing that the underlying price trends point to inflation staying around the Federal Reserve’s 2% target.

Key quotes (via Reuters)

  • U.S. economy is still in a very good place.
  • Some risks to global growth have receded.
  • Domestic drivers of U.S. economy are strong, expects growth above 2% this year.
  • Inflationary pressures are essentially nonexistent.
  • We are around neutral interest rate.
  • We should be right where we are in terms of interest rates, no argument to move at this point.
  • Want to see inflation at target for an extended period, little risk of inflation running hot right now.