- Fed needs to get away from explicit forward guidance on rate path
- We need to start removing some accommodation before we get to full employment and 2% inflation
- Stronger labour market will lead to wage growth and 2% inflation by the end of next year
- Important to look at underlying inflation trends, core CPI is relatively stable
John Williams speaking on Fox and is on the FOMC this year
It's a reminder of why the core is so important in these times. Yes the wages part of CPI was higher but we dropped nearly a percentage point on the headline number. At any other time that would have been carnage for the dollar
