Fed’s Williams says inflation job not done despite progress

Federal Reserve Bank of New York President John Williams said that while inflation has cooled recently toward the Fed’s 2% target, policymakers are still some distance from their goal.

“Inflation is now around 2-1/2%, so we have seen significant progress in bringing it down. But we still have a way to go to reach our 2% target on a sustained basis,” Williams said at an event hosted by the Reserve Bank of India in Mumbai on Friday. “We are committed to getting the job done.”