NY Fed President Williams' Highlights: Inflation, Jobs, and Interest Rates
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NY Fed President Williams' Highlights: Inflation, Jobs, and Interest Rates
NY Fed President Williams' Highlights: Inflation, Jobs, and Interest Rates
Yahoo Finance’s Jennifer Schonberger sat down for an exclusive interview with New York Fed President John Williams on Tuesday to discuss various aspects of the U.S. economy, including the March jobs report, inflation, credit conditions, and the prospect of needing to resume rate hikes in the future. Williams seems optimistic about job growth, but acknowledged that ‘inflation is still very high and that there is work to be done to bring it back to 2%’, also noting that central banks around the world have been tightening monetary policy, leading to somewhat restrictive financial conditions. You can watch Jennifer's full interview with NY Fed President John Williams here. Key video moments: 00:00:24 - Williams on job market 00:00:46 - Williams on inflation 00:01:00 - Williams on credit conditions 00:01:25 - Williams on financial conditions 00:01:44 - Williams on interest rates 00:02:11 - Williams on rate hikes 00:02:56 - Williams on commercial real estate
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NY Fed President Williams' Highlights: Inflation, Jobs, and Interest Rates
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Yahoo Finance’s Jennifer Schonberger sat down for an exclusive interview with New York Fed President John Williams on Tuesday to discuss various aspects of the U.S. economy, including the March jobs report, inflation, credit conditions, and the prospect of needing to resume rate hikes in the future.
Williams seems optimistic about job growth, but acknowledged that ‘inflation is still very high and that there is work to be done to bring it back to 2%’, also noting that central banks around the world have been tightening monetary policy, leading to somewhat restrictive financial conditions.
You can watch Jennifer's full interview with NY Fed President John Williams here.
Key video moments:
00:00:24 - Williams on job market
00:00:46 - Williams on inflation
00:01:00 - Williams on credit conditions
00:01:25 - Williams on financial conditions
00:01:44 - Williams on interest rates
00:02:11 - Williams on rate hikes
00:02:56 - Williams on commercial real estate
Video Transcript
JENNIFER SCHONBERGER: President Williams, thank you so much for sitting down with me and for having me here at the New York Fed.
[MUSIC PLAYING]
I want to kick off the conversation with your reaction to the March jobs report. Does it give you any assurance that the job market is starting to come back into balance?
JOHN WILLIAMS: I guess when I look at that, it seems like job growth is feel-- is actually quite strong still, even in the latest data. So yes, I am-- we are seeing some slowing in the demand for labor. But the demand for labor is still very strong. Labor market is still very strong.
JENNIFER SCHONBERGER: So then given your assessment of the job market and new developments we've seen with OPEC cutting back on oil production, how does that inform your outlook for inflation?
JOHN WILLIAMS: Inflation is still very high. And I would just mention that, you know, some of this core services inflation, excluding housing, that hasn't budged yet. So still got our work cut out for us to get inflation back to 2%.
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