John Williams, president of the Federal Reserve Bank of New York, said inflation remains above the Fed’s 2% goal and urged care to avoid weakening employment while price growth is brought down.
At the Nov. 12 event in New York, Williams described recent economic signals as firm and said employment conditions were improving. He said inflation remained persistent, though the economy showed no sign of an imbalance.
Williams said officials would weigh economic conditions as they prepare to decide on policy. He had previously called for sustained action to move inflation toward the Fed’s goal, as described in his earlier remarks.
The Fed’s policy history shows rates rose in September, following three years without an increase. At the October meeting, the central bank kept rates unchanged while considering fresh economic information.
The Fed’s calendar lists the next Federal Open Market Committee meeting for Dec. 8-9. It schedules the policy statement for Dec. 9 at 2 p.m. ET.
