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Wednesday, July 6, 2022

Fed’s Williams sees U.S. inflation at or above goal for years

Fed's Williams sees U.S. inflation at or above goal for years© Reuters. Fed’s Williams sees U.S. inflation at or above goal for years

MADRID (Reuters) – San Francisco Federal Reserve Bank President John Williams on Tuesday said he expects U.S. inflation to rise to the U.S. central bank’s 2-percent goal this year and stay at or above that goal for “another couple of years.”

To keep the economy from overheating, he said at Banco de España in Madrid, the Fed needs to keep raising interest rates. The Fed’s target rate is currently for a range of 1.5 percent to 1.75, and most Fed policymakers expect the rate to be between 3.1 percent and 3.6 percent by 2020.

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Source: Investing.com

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