July 16, 2020 / 8:01 PM / 25 days ago

NY Fed's Williams says central bank needs to deliver on 2% inflation target

NEW YORK, July 16 (Reuters) - In addition to supporting the economy and markets through the crisis caused by the coronavirus pandemic, the Federal Reserve needs to take actions to help anchor inflation expectations at 2% for consumers and businesses, New York Fed President John Williams said on Thursday.

“This is not the time to think about liftoff or normalization or all those words,” Williams said during an interview with Yahoo Finance.

“The goal here is we want inflation to be anchored at 2%,” Williams said.

“That’s been harder to do than to say and I would argue that much of that is because of this issue of the lower bound on interest rates and the limited ability in a global situation of very low interest rates to really provide accommodation and stimulus as needed.” (Reporting by Jonnelle Marte Editing by Chris Reese)

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