These comments on inflation coming from Williams are ironic. He spent years arguing the Fed should overshoot and floating ideas around average inflation targeting.
- We are 100% committed to goals
- Expect unemployment to reach around 4% next year
- Expect GDP to grow less than 1% this year and rebound to 1.5% next year
- Will be data-dependent and nimble
- It may take some time to get inflation to 2% and 'may well be a bumpy road'
Overall, there's nothing market moving here.
