The U.S. economy will recover “really nicely” over the next couple of years, but this doesn’t mean inflation pressures will build, said New York Fed President John Williams on Wednesday. “I don’t see inflationary pressures really building during that time,” Williams said during a webinar sponsored by Syracuse University. He noted that inflation rates around the world are very low. In addition, there are still 9 million fewer jobs in the U.S. economy than at the start of the pandemic. If inflation does surprise to the upside, the Fed has the tools to get inflation down near the Fed’s 2% annual goal, Williams said.
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