NY Fed Chairman Plans Inflation to Decline Through 2023

John Williams said the US Federal Reserve is committed to reducing inflation to its annual target of 2%.

President of feeder 🇧🇷Central ReserveFed’s John Williams of New York said optimistically this Monday (28.Nov.2022).By the end of 2022, US inflation will drop from its current rate to between 5% and 5.5%. In addition, it predicts inflation to ease to 3% to 3.5% next year.

John Williams said the central bank “Firm Determination” Andm to bring inflation down to its annual target of 2%🇧🇷 Andis Full Speech (230 KB, in English).

“It will take longer to bring down core inflation. But further tightening of monetary policy will help restore the balance between demand and supply and bring inflation down to 2% in the coming years.Williams said.

According to the president of the Federal Reserve Bank of New York, the monetary policy of the Federal Reserve Bank of America “clear”🇧🇷 However, he mentioned this 🇧🇷There’s still a lot of work to do.”🇧🇷

In his speech, he characterized inflation “The world’s foremost economic concern”🇧🇷

The North American Economy

On Wednesday (Nov. 23, 2022), officials from the US Federal Reserve Bank recommended A small increase in US interest rates in December, 0.5 percent.

At its November meeting, the Reserve Bank’s Monetary Policy Committee Approved 4th consecutive hike in interest rates. The index was increased by 0.75 pp to a range of 3.75% to 4.00%. That rate of increase was the fastest since the 1980s.

In October, annual US inflation Stayed 7.7%. This figure decreased by 8.2% compared to the previous month.

October inflation in the US was 0.4%. The figure was lower than what financial market analysts had expected.

🇧🇷I am fully confident that we will return to a sustained period of price stability.said John Williams, president of Central Reserve🇧🇷