NY Fed President Williams: It could be appropriate to start taper this year
Assuming the economy continues to improve as anticipated, ti could be appropriate to st art reducing the pace of asset purchases this year
Even after the asset purchases end, the stance of monetary policy will continue to support recovery
Wants to see more improvement in labor market before he is ready to say substantial further progress standard has been met
There are indications that the spread of the delta variant is weighing on consumer spending and jobs
Expects real GDP to increase by around 6% this year
Expects inflation to come back down to 2% next year
Pace of growth appears to be slowing somewhat relative to the first half
We have a long way to go to get back to maximum employment
it’s clear that this spike in inflation largely reflects the transitory effects of the rapid reopening of the economy, which is pushing supply and demand in extreme ways.