Fed's Williams: Recession is not my base case

• Expects GDP growth of 1% or 1.5% for the year
• We have a path forward to bring inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term down
• There are some downside risks from abroad
• Interest-rate sensitive sectors of the economy are slowing, like housing
• Economy is strong, financial conditions have tightened
• Expects economy to slow to a point where unemployment rises to 4% but it's highly uncertain
• My baseline forecast is that we need to get to moderately restrictive territory next year
• It's reasonable to get to 3.5-4% Fed funds rate
• At our next meeting, 50 or 75 bps will be the debate
• I'm not seeing any sign of a taper tantrum, the bond market is functioning. Watching very closely

Right now the Fed funds curve peaks at 3.60% in March of 2023. There's nothing from this interview that changes the outlook.