New York Federal Reserve President John Williams said on Friday that the current modestly restrictive monetary policy is “entirely appropriate,” as reported by Reuters.
Key takeaways
“Current rate policy fits with solid job market and above-target inflation.”
“There is a lot of uncertainty in economy and policy right now.”
“Expecting growth to slow in part due to lower immigration.”
“Hard to know how economy is going to perform.”
“Many different economic scenarios are possible right now.”
“Disinflation process has followed a bumpy path.”
“It was natural step for US central bank to slow pace of its balance sheet drawdown.”
“No signs inflation expectations becoming unmoored.”
“Data shows public believes near-term inflation rise will dissipate.”
“Economic data has been sending mixed signals.”
“Economy entered year on firm footing.”
“Labor market started year out better balanced.”
Market reaction
The US Dollar Index clings to modest daily gains following these comments and was last seen rising 0.18% on the day at 103.97.
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