Fed's Williams: US economy is starting to recover, but nowhere near we want it to be

New York Fed Pres. Williams speaking

• US economy is starting recover but no where near where we want it to be
• overall data masks health, economic hardships for communities of color, low-income families
• economic outlook is highly uncertain
• Fed's new framework links policy actions to economic outcomes
• Fed's forward guidance allows it to respond to changes as they happen
• Fed is not willing to accept very high inflation, or persistently high inflation
• economic path tied to curbing virus, finding vaccine
• economy has begun to recover, and unemployment rate down