New York Fed President John Williams said yesterday at a conference,”Our job is clear: our job is to make sure we restore price stability, which is truly the foundation of a strong economy.”
Williams noted that the global supply chains are still disrupted, thus, “although goods prices have come down in last several months, there are signs this may not go as quickly as hoped.”
At the same time, inflation in core services, excluding food, energy and shelter, remains far too high, as driven by excessive demand relative to supply.
