Fed's Williams: Fed has a ways to go on rates

The New York Fed’s John Williams who recently said that he predicts a time, “probably 2024”, when the Fed will lower the federal funds rate, has today said on Fox News that the Fed has a ways to go on rate hikes. 

Key comments

Inflation still far too high.
    
Will take a couple of years for inflation to ease to target.
    
High inflation not yet embedded in economy.
    
Fed job is to balance demand with supply.
    
Seeing signs of welcome ebbing in inflation, but unsure if its peaked.
    
Doesn't believe there is a wage price spiral happening.
    
Demand still far exceeding available supply in us economy.
    
Tighter monetary policy needed to restore economic balance.
    
Fiscal stance not a big factor right now in driving inflation.

Fed has a ways to go with rate rises.
    
Fed rate rise resting place depends on economy.

More to come ...