Fed's Williams says 2% inflation target 'critical'

Explore stories from Atlantic Canada.

PALO ALTO, California -The U.S. central bank's 2% target for inflation is key to achieving price stability and essential for ensuring economic prosperity, New York Federal Reserve Bank President John Williams said on Friday.

While price pressures have eased since their peak in mid-2022, inflation is still running above the Fed's 2% goal, a centerpiece of the Fed's approach to policy since 2012. Keeping it, he predicted, would force the U.S. economy into a"fairly serious recession" in coming years.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

SaltWire Network /  🏆 45. in CA

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Fed's Williams said outlook uncertain, data will drive rate decisionsExplore stories from Atlantic Canada.
Read more »

EU lawmakers urge von der Leyen to drop business envoy in cronyism rowExplore stories from Atlantic Canada.
Read more »

Coppola, Cronenberg to compete at Cannes Film Festival undimmed by strikesExplore stories from Atlantic Canada.
Read more »

'Every medical professional seemed to fail my father,' says son of man who died in Fredericton ER waiting roomExplore stories from Atlantic Canada.
Read more »

Candidates for UPEI president take part in confidential fireside chats including students, staffExplore stories from Atlantic Canada.
Read more »

O.J. Simpson, former NFL star acquitted of his wife's murder, dead at 76Explore stories from Atlantic Canada.
Read more »