High Interest Rates Are Working, Fed's Williams Says
- Expects inflation will resume easing in second half of 2024
- Policy well positioned to move toward Fed’s goals, he says
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Federal Reserve Bank of New York President John Williams said he expects inflation to continue falling in the second half of this year, adding that elevated borrowing costs are restraining the economy.
Williams said that while inflation is still too high, Fed policy is well positioned and the imbalances between supply and demand are easing.