Fed's Williams says financial conditions key to rate policy outlook

“The economic outlook is uncertain, and our policy decisions will be driven by the data and the achievement of our maximum employment and price stability mandates,” Williams said in a speech in Bridgeport, Conn.But Williams, who also serves as vice-chairman of the rate-setting Federal Open Market Committee, stopped short of saying what he thinks lies ahead for monetary policy in the wake of turbulent financial conditions tied to a two recent bank failures.

The New York Fed president’s remarks Friday were his first since the FOMC met last week. At that gathering, officials penciled in one more increase for this year and then steady policy for the remainder of the year. In his remarks, Williams laid out some short-term pain for the economy as the Fed uses policy to cool inflation.

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A key inflation gauge tracked by the Fed slowed in FebruaryThe Federal Reserve's favored inflation gauge slowed sharply last month, an encouraging sign in the Fed's yearlong effort to cool price pressures through steadily higher interest rates. Inflation is the costs of goods and services acting like a sponge on a growing currency supply. That is literally why it is called inflation. We used to export it to other nations, but they wised up and formed BRICS+. It is not going to get better. And yet, my grocery bill continues to climb. It’s not the interest rates. It’s the fiat (fake) money itself.
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