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- Fed's Williams: We are seeing a broader based increase in inflation
Fed's Williams: We are seeing a broader based increase in inflation
Federal Reserve Bank of New York President John Williams said we are seeing broader-based increases in inflation on Thursday, according to Reuters. Even after taking into account base effects, said Williams, we are seeing a pick up in underlying inflation in the US. Long-run inflation expectations reversed earlier declines, he continued, and are now at levels seen in 2013 and 2014.
On the labour market, Williams said that supply constraints are a major factor.
On the Fed's average inflation targeting framework announced in 2020, Williams said it was well suited for the current environment, as it starts from a point of making sure inflation expectations are anchored at 2.0%.
Market Reaction
FX markets have not see any reaction to these comments, with the DXY still trading a tad weaker on the day to the south of the 95.80 level.
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