More bullish signals from New York Fed Leader

New York Fed Leader John Williams said the Fed needs to raise interest rates further to cool inflation.

“Inflation is still high and there are signs that supply-demand imbalances persist. It is clear that monetary policy has a lot more work to do to keep inflation on track for our 2 percent goal,” Williams said at the event of the Association of Fixed Income Analysts in New York. .

“Bringing inflation down is the trend for a while. under Williams said, “Restoring price stability is imperative for maximum employment and stable prices in the long run. It is very important that we continue to stay on track until we complete our work,” he said.

Stating that they have seen signs that inflation pressures are starting to slow down, Williams emphasized that he expects inflation to decline to 3 percent this year.

Expecting the US economy to grow by 1 percent this year, Williams predicted that the unemployment rate would rise to 4.5 percent.