Feds Williams: Fed is at or near peak for federal funds rate

NY Fed President Williams is a speaking and says:

• Monetary policy is having the desired effects on the economy
• Fed is at or near peak for federal funds rate.
• Fed will need restrictive policy stance for some time to achieve goals.
• Sees inflation ebbing to 3.25% this year, heading to 2% in 2025.
• Future is uncertain, data will drive future policy choices.
• Will still take a while for full monetary policy tightening to affect economy
• Unemployment to rise just over 4% next year.
• GDP should moderate next year to about 1.25%.
• Inflation is still too high, price stability essential for economy.
• Job market strong, current unemployment rate matches long term trend.
• Job market moving into better balance.
• See sample signs at inflation pressures are waning