Williams says inflation is 'far too high' and the Fed isn't finished
New York Fed President John Williams told a UC Berkeley alumni crowd in New York that inflation is still "far too high" and the central bank needs more time and action to drag it back to 2%. He paired that with a rosier read on the economy, saying it is strengthening. His comments land alongside a chorus of Fed officials warning inflation is stuck above target.
- Original source: breakingthenews.net.
- The source published it on Nov 13, 2026 at 12:56 AM.
- No second outlet has reported it yet. Treat it as a single-source claim.
New York Fed President John Williams said inflation remains far above where it should be, telling a UC Berkeley alumni event in New York that the Fed has more work to do before price growth returns to its 2% goal. Getting there will take action over time, he said. Williams also struck an upbeat note on the broader economy, pointing to its resilience and growth as evidence it is strengthening.
He is not alone in the alarm. Chicago Fed President Austan Goolsbee said Thursday that US inflation sits well above the central bank's target, and that this is not a one-month blip — it marks the third or fourth straight month of trouble. Speaking at the Yahoo Finance Invest 2026 event, Goolsbee said inflation in several ways appears to be heading the wrong direction and argued the Fed should stay sober-minded.
Cleveland Fed President Beth Hammack pointed to genuine demand pressures driving prices higher, plus secondary pressure from energy costs. She said the Fed has been missing its inflation mandate for years, that a more restrictive stance is needed to bring prices down, and that she would rather see steadier rate increases so the economy has room to adjust. Hammack has backed rate hikes and was in favor of one at the Fed's July meeting.
San Francisco Fed President Mary Daly offered a different angle at the Economic Policy in the Age of AI Policy Forum, saying artificial intelligence has so far had a limited impact on the jobs market. AI could push prices up, she said, but it is not the main force behind inflation right now. Daly also warned that the fight against inflation should not blind the Fed to the chance that productivity gains turn disinflationary.
The backdrop is getting tighter. The Fed has pulled its October rate decision meeting from next year's schedule, leaving seven scheduled policy meetings, down from the usual eight. The trimmed calendar lands as investors track the policy path after October inflation came in hotter than expected for a second consecutive month — and with policymakers now holding one fewer scheduled meeting to size up the economy in 2027.
TopicsJohn Williams · Federal Reserve · New York Fed · Mary Daly · Austan Goolsbee · Beth Hammack · San Francisco Fed · Cleveland Fed
Source: breakingthenews.net
Written by Paparazzi with AI. Not financial advice.