[Statement from an important person] New York Fed President Williams: We are still halfway to achieve the 2% target

New York Federal Reserve President John Williams emphasized on Friday that the Federal Reserve (Fed) is putting all its effort into “getting the job done” with respect to inflation. President Williams acknowledged that while significant progress has been made, “we are still in the middle of the road” until the 2% target is achieved.

Governor Williams warned that “uncertainty will continue to characterize monetary policy for the foreseeable future.” President Williams cited artificial intelligence, climate change, globalization, financial system innovation, etc. as sources of uncertainty in addition to standard issues related to measuring macroeconomic variables.