Fed’s Williams Says ‘Not Quite There Yet’ on Cooling Prices

Federal Reserve Bank of New York President John Williams said that while prices have come down in a still-solid economy, there’s still room to go for inflation to come into the Fed’s 2% target.

There has been “a significant decline in inflation toward our 2% goal. Obviously [we’re] not quite there yet,” Williams said in a Barron’s interview published Thursday. “I expect it will be appropriate over time to bring the fed-funds rate down closer to more-normal or neutral levels.”