Federal Reserve Bank of New York President John Williams keynote speech before the New York Association for Business Economics (NYABE) Distinguished Speaker Series.
Q&A now.
Inflation has moderated unevenly, in part due to housing-related factors.
Without tariffs, inflation would be closing in on 2%.
It's not surprising that tariff impacts have been growing.
Not surprised tariff impacts have been modest so far.
There's been good news on service sector inflation.
Underlying disinflation process is still happening.
The job market is in low hiring, low firing mode.
In his earlier remarks Williams conveyed the Fed was in a 'wait and see' phase on how inflation develops from here.And that the impact of tariffs on higher prices had barely begun. More of the same here really.
